[BIP] Business Income Protection – Weekly

Specialist Underwriting Agencies in conjunction with Asset insure Pty Limited are pleased to offer a new stand alone Business Interruption Policy.

This innovative new product is easy to understand and provides a Weekly Sum Insured over a predetermined time frame, together with the ability to provide coverage to the Gross Profit margin of a business. This is imperative in allowing a business to ‘keep their head above water’ during an interruption to their business. This new product also has provision of cover for Additional Increased Costs of Working and Professional Fees.
Statistics show that of all businesses that suffer a major asset loss, two thirds fail to recommence the business or continue to operate in the long term. This is including some of the businesses that had some form of Business Interruption Insurance in place.

Policy benefits

• Weekly claim payments direct to client’s bank account (where practicable)
• There are no penalties for average / co-insurance, or savings in business overheads 
• Takes the ambiguity out of business interruption insurance 
•  No requirement for Asset Insure Limited to write the material damage cover

What is covered

• Loss of income and/or loss of output following an incident for which material damage insurance cover exists
• An agreed rate of gross profit percentage
• An agreed maximum weekly sum insured for loss of income or rent
• Additional increased cost of working and professional fees

The Policy will automatically respond for

• Failure of public and private utilities (excluding the first 48 hours of the interruption)
• Prevention of access (premises in the vicinity)
• Suppliers and customers situations
• Registered vehicles (whilst at the situation)
• Loss of attraction / draw card business

What isn’t covered

• Loss of income where no material damage cover exists.
• Electrical, electronic and/or mechanical breakdown or breakages
• Flood
• Exclusions noted on the existing material damage cover
• Terrorism
• Data recognition

For full details of coverage please see the policy wording on this website.

> Download BIP-W web brochure [PDF]

Additional available resources Business Income Protection-Weekly: Indicative Quote Request Form Business Income Protection-Weekly: Proposal Form Business Income Protection-Weekly: Renewal Proposal Form Business Income Protection-Weekly: Policy Wording Why Insure Business Interruption Insurance?

Contact John Iles Ph (07) 3624 9408 johni@sua.com.au Denis Morrissey Ph (07) 3624 9417 denism@sua.com.au Gail Page Ph (07) 3624 9400 gailp@sua.com.au