Business interruption insurance covers lost income and operating expenses when your business cannot operate normally due to covered perils like fire, natural disasters, or equipment breakdown.
What does it cover?
- Lost revenue during the shutdown period
- Fixed operating costs (rent, utilities, salaries)
- Training costs for temporary staff
- Relocation expenses to a temporary facility
- Extra expenses to minimize the shutdown period
Why SMEs need it: Small and medium enterprises often lack the financial reserves to survive a prolonged shutdown. Business interruption insurance provides a financial safety net, covering lost profits and helping you pay fixed expenses until operations resume.
At GIIB, our commercial insurance specialists help tailor business interruption coverage based on your industry, revenue patterns, and specific risk factors.