Business Interruption Analysis
How long would your business survive if suddenly you were unable to trade from your premises following a Fire, Storm or prevention of access due to a neighbouring property incident. 2 months? 6 months? 18 months perhaps? And if this did happen, could you ensure staff were paid and that business owners, shareholders and other stakeholders’ income stream was protected?
At Emjay Insurance Brokers, we can help make sure your business is ideally placed to bounce back from unexpected disruptions through our expertise in business interruption insurance. We will ensure your company will continue as it already has.
In any given business, the net profit and ongoing expenses including payroll, management and staff bonuses and financing costs are all regarded as insurable Gross Income or Gross Profit. These expenses should be insured in the same way your business’s physical assets are. Without this safeguard, even a resilient business can be under threat in the event of a major interruption.
In straightforward terms, business interruption insurance is an indemnity policy, designed to put the insured back as near as possible to the same financial position to where they were before the interruption.
Our approach at Emjay is to tailor your cover to the specific needs of your business. We get to know your business and its key personnel to help you assess whether to insure your entire wage roll or partial wage roll; we look at your business trends to allow future potential earnings to be factored into the cover; we uncover whether you can source replacement machinery locally or if there are overseas freight costs to be considered. We also offer a review of the ongoing fixed cost business expenses you might have to pay even if the business isn’t operating.
By partnering with independent specialists in loss management and risk assessment, Emjay has access to a broad range of insurance tools and professionals with great experience in both small and large business interruption claims.
For more information on how can assist you with protecting your business contact us today
on 02 9796 0400.