A look back at March 2017
Article publish date: Friday 8 December 2017
Enhanced cover with our Business Interruption calculator.
In Spring we launched our new Business Interruption calculator that, in addition to helping you guide your clients towards insuring their business for the right sums, it can determine the correct indemnity period that should be in place.
If a business doesn’t have time to get back on its feet before the interruption cover runs out, following a major loss, it is unlikely to survive. Since the calculator went live we’ve supported many of our broker partners in recommending levels of protection which address this, when previously they may not have had sufficient cover in place.
Our calculator helps you provide a realistic assessment of recovery timescales, but that’s not all. Even the most accurate assessment can’t account for the curveballs life can throw. So, to protect against any unforeseen delays or surprises, our quotes come with the promise of an additional 12 months’ free cover.
For brokers using the calculator and, taking the recommended level of cover, we’ll give enhanced cover, at no additional cost, to ensure their clients are well protected from the risk of underinsurance. Specifically:
- An additional 12 month indemnity period and proportionate increase in the sum insured over and above that recommended by the calculator, which will allow time for any unexpected delays
- The removal of ‘average provision’ from the policy
- For declaration linked policies, a 150% uplift to cater for unforeseen positive business trends.
Watch our video guide and try out our Business Interruption Calculator here.
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