Being prepared for BI claims.
Last Autumn's flooding and the ongoing foot and mouth crisis means that incidences of BI claims are rising. Brokers must ensure they are fully aware of the key principles.
Insurers are facing a deluge of claims under the businessinterruption section of traders' combined policies.
Last Autumn's severe flooding put many businesses out of action for weeks,
and the current foot and mouth catastrophe has critically affected
thousands of rural businesses which will not qualify for Government
compensation.
Although the vast majority of BI claims resulting from these events will
already have been notified, nonetheless it is timely to consider some of
the key principles.
Broke
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