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Business Interruption Insurance Ireland
Protection that gets you back to business as usual.
If the worst should happen, business interruption insurance can keep your business up and running and get you back to where you were before any disruption.
Establised in 1993.
Over 100 years' experience.
10 dedicated team members.
Thousands of Irish customers served.
Business Interruption Insurance Ireland
Business interruption insurance provides cover for any loss of income incurred as a result of damage to insured property or an unexpected incident which means that the business cannot operate as normal.
The right business interruption policy aims to restore your business to the position it was in prior to the loss, whilst also providing you with the funds to continue business as usual – paying wages, bills and maintaining profits.
To discuss the level of cover your business might need, call us now on 01 845 4361, email us at sales@ermfinancialservices.ie or simply fill out our contact form.
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Business interruption insurance can be vital to keeping an organisation running, providing:
All Risks Damage
including fire, malicious damage, storm, flood, escape of water, and theft.
Gross Profit Protection
for a set period, depending on your risk profile.
R&D Expenditure
Tailored policies are available to cover third-party costs, including grants and previous projects.
Optional Non-Damage Extensions
Loss of utilities and prevention of access are available as an extension of business interruption cover.
Why choose ERM Financial Services for Business Interruption insurance?
Service, expertise, advice and competitive quotes that you can rely on, since 1993.
- Cover For Businesses Of All Types & Sizes
- Tailored Insurance Products
- Competitively Priced
- Dedicated Account Manager
- Over 100 Years Experience
Business Interruption Insurance Ireland
How does business interruption insurance work?
The material damage cover portion of your policy first acts to rebuild or replace any lost or damaged property. While property repairs or replacements are being carried out, the policy then covers your reduced income during this period, as well as the time taken to regain any business lost as a result of the damage.
How is the amount insured calculated?
Basis of losses
As your insurance broker, we work with you to calculate the sums insured based on on either a loss of gross profit or loss of revenue basis.
Loss of revenue
Loss of revenue calculations are generally used by service industries (accountants, estate agents solicitors) as there is no cost of product to deduct so income is based on gross profit alone.
Loss of gross profit
Loss of gross profit is normally used by companies that sell a product and has a cost associated with this (shops, factories, and wholesalers).
Income and trends
Following a claim, loss adjustors calculate the sum insured by looking at your income and trends prior to the loss, and compare this with the loss during the period the business is interrupted (‘the indemnity period’).
ICOW
ICOW covers additional costs your business incurs for the sole purpose of preventing or limiting a loss in turnover following an insured event (e.g. finding another premises, storage, temporary staff).
AICOW
AICOW covers any increased costs of working ‘in addition’ to the gross profit or revenue sums insured. AICOW is not subject to the ‘economic limit’ test.
Speak to our team today about the level of cover your business needs and we’ll help identify the best policies for you based on your specific situation.