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Small Business Insurance

Business Interruption

Q. Have you considered the impact of an unforeseen event on your business’ income and/or profitability? Many businesses fail to recover from a major event such as fire, storm or earthquake as overheads (such as wages and rent) continue even though the business may be unable to trade.


A. You should protect your business by taking Business Interruption cover.

Allianz understands that there is usually a reduction in the business turnover when a customer’s business premises are severely damaged. For example, this reduction may arise from a fire that destroys the premises and/or business contents or a burglary that reduces stock levels.

Financial loss to the business will arise from an inability to operate or trade at normal levels causing cash flow to be affected. In fact, most businesses suffer a reduction in turnover rather than a total stop to their operations. Income may cease for a period whilst the property is being replaced, however there may still be loan repayments to make, employees to pay, and key customer accounts to manage.

Business Interruption provides cover for consequential loss of income and/or profits or revenue resulting from the interruption of or interference with your business caused by damage covered under the Material Damage, Theft or Glass sections.

The Sum Insured is chosen by you to suit your specific business needs

What is Covered?

Features and Benefits

Options

Under the Business Interruption section, your business is covered for loss of gross revenue and increased expenses during the affected period, including such costs as

  • Loan repayments
  • Supplier/employee costs
  • Management of key customer accounts

Some examples of defined events for business interruption include:

  • Damage to your property insured
  • Explosion of a boiler
  • Certain events (e.g. damage to a property within 5km of the business) preventing access to your business premises
  • Failure of public supply of services to the premises such as electricity or water
  • Closure or evacuation of your bsuiness premises by a public authority due to events such as an outbreak of disease (within 20km of the business), murder, suicide on premises etc

The following choice of covers is available:

  • Loss of Gross Revenue - "Gross Revenue" is defined as the money paid or payable to you for services provided (and Stock in Trade, if any sold) in the course of business at the premises. In the event of a claim, Allianz will make payments to your business based on the actual loss of Gross Revenue and increase in cost of working.
  • Additional increase in costs of working only – cover is provided for the increased costs incurred in consequence of the damage, for the sole purpose of avoiding or minimising the loss of Gross Revenue, less any sum saved in respect of revenue expenditures

View additional benefits under the Business Interruption section

Cover options available under this section include:


  • Loss of rent: Cover is provided for rent and services rendered may fall short of the amount that would be reasonably estimated to have been received during the period of loss.

The information provided above is intended as a summary only. For full details of cover, conditions and exclusions relating to Allianz Office Pack, please refer to the
PDF Download product disclosure statement.


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