In this BIBA guide, our fourth and final for 2018, we look at the considerations required in the modern world when it comes to business interruption (BI) covers.
Mike Hallam, Head of Technical Services, BIBA, describes business interruption (BI) as "one of the most complex insurances that a business will need to buy"; so it's not entirely surprising that underinsurance is common, with confusion about key definitions, seasonal changes not being taken into account, recovery times underestimated, and many other issues.
• Non-damage business interruption (NDBI).
• BI following terrorist attacks.
• Calculating sufficient indemnity periods.
• Disruption caused by cyber attacks.
• Continuity planning for technological interruptions.
• Maintaining a resilient supply chain.