Is your business interruption insurance as comprehensive as you think? At the City and Financial business continuity conference held earlier this week in London a presentation was given by Marsh about business interruption insurance. Based on information given in the presentation the question was asked: "If a company is denied access to it's building and thus unable to work due to a physical incident in a neighbouring building but has suffered no material damage itself could they claim on business interruption insurance as they cannot operate?" The answer given was: ‘No they could not - unless they have taken out specific denial of access insurance.’ This was news to most people present and it is therefore worth investigating your own company’s insurance cover in light of this. SUBMIT YOUR OWN QUICK COMMENT – a brief thought on any aspect of business continuity.
•Date:
4th February 2005 • Region: UK •Type:
Article •Topic:
BC general |
