“Reasonable amount of time necessary for the insured to resume business.” Seems simple enough…however, there are a lot of components included within this that could ultimately determine if your business will in fact survive a devastating loss.
Some of the most complex claims will revolve around your business's lost income.
“When trying to control financial risk, insurance is the cornerstone. And business income insurance can prove to the foundation for survival of a business whose operations have been interrupted by a devastating loss.” Ron Papa - Business Income Insurance: Having & Understanding this Coverage can be Essential to a Company’s Survival!
The key component to a company’s survival, after a disaster, may be the coverages within its insurance policy associated with Loss of Income, or more commonly referred to as Business Income Insurance.
Having Business Income Insurance is not enough… Understanding when it’s purchased and when a claim is adjuster, is just as critical. If you do not fully understand the coverages available within your policy, it can not only magnify the loss, but it also “can be a fatal blow when such a loss strikes an otherwise healthy business!”
BI claims can also include Loss Rents, Extra Expense, and Expediting Expense. NFA is well versed in all aspects of BI Claims and have CPA’s on staff to document these claims.