Getting all you are entitled to from your business interruption claim.

• Date: 01 May 2018
• Author: Bissonette, Laurie

In one week in the North, I heard of a terrible flood from a burst water pipe and the collapse of the face of a building from a vehicle accident. For each of them, I hoped they had business interruption insurance to help ease the financial burden of such a disaster.

It is critical to make insurance part of an organization's crisis management plan. It can provide the funds to minimize the financial impact on the business of unexpected events and can help cover the costs of having outside professionals assist with claims preparation, and, most importantly, will allow management to focus on getting the business back on track following a crisis.

Insurance claims may be made for any number of reasons--perhaps loss of business income or property (e.g. fire, flood, etc.)--to recover losses from fraud or losses from other insured...