Business interruption insurance

When fire or natural disasters strike, the impact on your business is often greater than just the damage to your properties, inventory and goods. It often means that your business is not operational for an extended period, reducing your revenue while numerous costs remain to be paid such as the salaries of your employees.

If your insured interest suffers material damage and as a result, your business experiences a temporary or partial business interruption, ENNIA's business interruption insurance can ensure the continuity of your business.

Why choose this insurance?

• When properly advised, you can minimize the financial impact of a fire or natural disaster on your business.
• We compensate you for your sales or production decline after significant damage, ensuring that your business operations suffer as little as possible.
• First of all, we compensate your (monthly) fixed expenses such as salaries and social security contributions, while you focus on getting your business operational again.
• We help you find a suitable location to temporarily continue your operations during the reconstruction of your property.
• We advise you to select the correct benefit period, which includes the reconstruction period, the delivery period of new equipment, the restoration of production capacity and/or the restoration of revenue.
• We also advise clients to determine the correct annual amount (gross profit).

 

What does it cover?

• We ensure your gross profits (the fixed costs plus net profit).
• We cover your fixed expenses such as salaries and social security contributions.
• We also cover some indirect causes, where limited damages are paid even though there is no material damage to your insured interests.
• We will pay a one-time benefit (cessantia) to employees who are laid off (through no fault of their own) due to a covered loss.
• Underinsurance risk is minimized by automatic over-coverage, which automatically increases the sum insured by up to 30% per occurrence.
• Additional operating expenses to get business operations back on track quickly.
• We also reimburse costs to minimize damage during or after an incident.
• Expertise fees of both parties including an arbitrator.

 

What does business interruption insurance cost?

Your Business Interruption Insurance is a customized insurance product, which is an addition to Fire Insurance (property or inventory and goods insurance) with competitive pricing. Several factors determine the price. You decide what you want to insure or the maximum premium you wish to pay. Your insurance advisor will gladly explain the options and corresponding premiums to you.