Business interruption is a type of commercial support that is designed to compensate businesses for lost income and other expenses that are incurred as a result of a disruption to their operations. This type of support is typically provided in the form of insurance coverage, and can be triggered by a variety of events, such as natural disasters, fires, and pandemics.
When a business experiences a disruption to its operations, it may be unable to generate revenue and may incur additional expenses in order to get back up and running. Business interruption insurance is designed to help businesses recover from these types of disruptions by providing financial support to cover lost income and expenses.
In order to qualify for business interruption coverage, a business must have an active insurance policy that includes this type of coverage. The specifics of the coverage will vary depending on the policy, but it may include things like lost income, additional expenses, and the cost of temporary relocation.
To make a claim for business interruption coverage, a business must provide documentation to their insurer demonstrating that their operations have been disrupted and that they have incurred losses as a result. This may include things like financial records, repair estimates, and other documentation.
Business interruption insurance can be a valuable tool for businesses that have experienced a disruption to their operations, as it provides financial support to help them recover and get back on track. It is important for businesses to carefully review their insurance policies to ensure that they have the coverage they need in the event of a disruption.