If your business is physically damaged and you ar`nt in a position to carry on the business without a hiccup elsewhere, it`s not enough for the assets only to be replaced. If damage results in loss of turnover and increased costs it`s critical to insure the costs of running the business and the profit that it would have made until the business gets back to the turnover that it would have been doing if the damage did`nt happen is essential to the survival of the company.
Loss of turnover can also arise from damage to suppliers or customers premises, interruption to the electricity and water supply, damage to neighbouring premises causing prevention of access to your business and delays in construction. Substantial costs can also arise from loss of computerised records and corruption of data or programmes, accidental or intentional.
This post was written by Shado