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by Martyn Locke, Trade Credit Specialist – Tysers INSOLVENCY I ADMINISTRATION I LIQUIDATION I CVA I BANKRUPTCY It has been a volatile year and uncertainty continues to surround the potential impact of our exit from the EU. However Brexit is resolved it is possible that your business’s customers may find it difficult to trade profitably […]
Under-insurance can be caused by the selection of an inadequate Indemnity Period. The Indemnity Period in a Business Interruption Insurance policy is a limited post-incident period for which an insurer will indemnify a client for financial loss. Research indicates businesses often choose an insufficient maximum indemnity period. This is typically due to a failure in […]
Establishing an accurate gross profit sum insured with your Client Director/ Broker is essential to the correct operating of a business interruption cover. We have used this calculation formula for many years which has proved very helpful to our clients and whilst it will not apply to all situations it will assist in most cases. […]
A common problem in Business Interruption claims is the insufficiency of the sums insured. Underestimating the sum to be insured could lead to a significant financial shortfall following a business interruption event, potentially leaving a business in financial difficulty or worse still unable to continue trading. Business Interruption cover is generally arranged to protect […]
In property insurance the purpose of cover is to put the insured in the same position after the loss as they were immediately before it. The principal in Business Interruption cover is extended and will, if correctly arranged, put the insured in the same trading position after the interruption as they would have been had […]