Business Interruption Insurance
Business Interruption Insurance includes compensation for material damage that may result from the insured property as a result of damage/destruction with insured risks, which leads to the suspension of activities.
Covered Risks:
In the case of real and movable property: Fire, Water damage, Collision and Falling object, Appropriation of Property, Natural disasters, Third Party's Unlawful actions and other risks included in the property insurance policy.
In the case of machinery breakdown insurance: Electrical and physical injury, Damage caused by manufacturing defects or imperfect construction, Damage caused by an error during the use of machinery or Disruption of the machine due to negligence.
Costs and Losses Covered by the Insurance
Includes salaries to be paid during the period of suspension of activities and their income tax.
Costs of renting, leasing a building, machinery, or other property used for the insurer's activities what obligation to pay does not cease during the period of suspension of activities due to damage/destruction of property.
Reimbursement of utility, communication, security services, and other payments required during the suspension period.
Tax liabilities will be reimbursed, such as VAT, excise duty, import tax, profit tax, which cannot be paid due to the suspension of activity.
Bank loans (principal and interest) or other monetary liabilities during the period of suspension, for which the company has no or incompletely source of payment as a result of suspended operations.
Expenditures that contribute to the reduction of reimbursable damages, in agreement with the insurance company.
Reimbursement of the part of the net profit that the insured would receive in the event of non-cessation of operations.
Remuneration will be calculated according to annual tax data.
Our Benefits
We make personalized insurance product design for your organization that stands out from any of our insurance company products by its quality.
We find terms of insurance on our product from the relevant insurance companies, analyze their quotes, and choose the best / optimal one.
We handle the full process of insurance that includes reviewing a contract with a selected insurance company, assisting with the preparation of necessary documents, managing, and controlling issues arising in the insurance process.
Monitoring involves managing service with an insurance company that helps insureds in a fair and timely settlement of insurance cases. The service also includes surveys of the insureds and management of revealed faults in service.
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