Business Interruption
Business Interruption
also called business loss insurance or company pension
After an insurance claim, business activity may come totally or partially to a standstill. Business interruption insurance covers, in Spain, the financial consequence due to limited possibilities to sustain the business after an insurance claim.
The financial setbacks of a business interruption can easily exceed the material damages. A typical example would be if a burst pipe destroys the whole computer system.
Your business insurance will quickly deal with such claims and pay for the replacement and installation of the technical equipment. However, some time may pass until this equipment is delivered and installed, which could halt or slow down your business. These income losses are covered by the business interruption insurance.
- Ongoing fixed costs.
- Costs for the temporary relocation of your business to other premises
- Technical emergency systems.
The business interruption insurance covers the risk of an insured event slowing or halting your business due to a material claim, as fire, overvoltage, storm, robbery or burst water pipes.
It covers both the loss of income during the interruption, and the continuing obligations, such as paying rents, loans, rent, wages, operational fixed costs, etc.
The requirement for the issue of business interruption insurance is the existence of a valid business insurance policy. This insurance can then be completed in order to include the risk of business interruption. This of course also applies for the inclusion of liability insurance.
Business liability insurance in Spain
Public liability insurances belong to the division of commercial insurances in Spain, and it is indispensable for most companies. In principle it is a necessary protective measure for any business.
- Ongoing fixed charges
- Costs for the alternative accommodation in other business premises
- Technical emergency systems
, more than just standard
At Iberia insurance brokers customers receive an Iberia Service+. But what does that mean? It’s very simple, our customers are worth a lot to us, and so we want to offer our customers more service through the standard insurance service. Service for which no one of our customers has to pay extra or has to conclude an extra contract – just our service for you.- Selection of insurance from more than 10 different insurance companies
- 24/7 hotline – free – Spain wide
- personal consultation for the customer on spot
- Cost-benefit analysis of the pension schemes with optimization suggestions
- Advice in your language
The financial setbacks of a business interruption can easily exceed the material damages. A typical example would be if a burst pipe destroys the whole computer system.
Your business insurance will quickly deal with such claims and pay for the replacement and installation of the technical equipment. However, some time may pass until this equipment is delivered and installed, which could halt or slow down your business. These income losses are covered by the business interruption insurance.
- Ongoing fixed costs.
- Costs for the temporary relocation of your business to other premises
- Technical emergency systems.
The business interruption insurance covers the risk of an insured event slowing or halting your business due to a material claim, as fire, overvoltage, storm, robbery or burst water pipes.
It covers both the loss of income during the interruption, and the continuing obligations, such as paying rents, loans, rent, wages, operational fixed costs, etc.
The requirement for the issue of business interruption insurance is the existence of a valid business insurance policy. This insurance can then be completed in order to include the risk of business interruption. This of course also applies for the inclusion of liability insurance.
Business liability insurance in Spain
Public liability insurances belong to the division of commercial insurances in Spain, and it is indispensable for most companies. In principle it is a necessary protective measure for any business.
- Ongoing fixed charges
- Costs for the alternative accommodation in other business premises
- Technical emergency systems
, more than just standard
At Iberia insurance brokers customers receive an Iberia Service+. But what does that mean? It’s very simple, our customers are worth a lot to us, and so we want to offer our customers more service through the standard insurance service. Service for which no one of our customers has to pay extra or has to conclude an extra contract – just our service for you.- Selection of insurance from more than 10 different insurance companies
- 24/7 hotline – free – Spain wide
- personal consultation for the customer on spot
- Cost-benefit analysis of the pension schemes with optimization suggestions
- Advice in your language
After an insurance claim, business activity may come totally or partially to a standstill. Business interruption insurance covers, in Spain, the financial consequence due to limited possibilities to sustain the business after an insurance claim.
Get the best policies and rates here.
Iberia Insurance Broker reviews your existing insurance policies and provides you with comparative offers from various insurers including Allianz, Liberty, Zurich, DKV, and many more. With our headquarters in Mallorca and specialists throughout Spain, we are always on hand to offer you advice that saves you money.
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info@iberiainsurancebrokers.co.uk
Denise Latocha
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