Commercial property and business interruption claims cost UK insurers over £2.5 billion pounds annually. Fire damage alone accounts for around 60% of the annual losses
Material damage and loss of profits insurances covers are designed to protect your business assets and company profits following a loss. In the event of a major loss, these two covers when correctly arranged, will assist with the successful recovery of your business.
However, Property and Profits Insurance are complex areas and it is not enough to consider the simple fact of choosing an adequate sum insured when arranging your cover.
There are a multitude of factors which can determine how your business should arrange these covers. Receiving expert advice to make the correct assessments and cover choices is vital to ensuring recovery from a major loss.
- Cover levels
- Levels of self insurance
- Availability of business machinery and equipment
- Key customers and suppliers
- Business trends
- Disaster planning
- Risk management