Business Interruption Insurance | Business Income Insurance

Business Protection In Uncertain Times

Is your business protected from unexpected disruptions? Businesses in Australia are increasingly at risk from sudden disruptions that can be catastrophic, such as fires, floods and storms.

Protect your business from unforeseen events. CIA’s business interruption insurance provides business owners with peace of mind and the confidence they need to run their businesses profitably.

What Is Business Interruption Insurance?

Business interruption insurance is a type of coverage that protects businesses from losses as a result of unexpected disruption. This may include natural disasters, third-party disruption, or any other incident that impacts the business’s operations. This form of cover ensures that your business minimizes losses and continues running smoothly after an unexpected event by covering any damages or losses.

As a business owner, you are obligated to pay ongoing expenses even in an expected event, such as staff wages, supplier invoices, rent or loan repayments. Business interruption insurance helps you cover these expenses, plus any additional costs incurred during the recovery period, allowing you to cash flow and support your financial obligations.

What Does Business Interruption Insurance Cover?

Loss of revenue during
the period of disruption

Ongoing fixed costs and operating expenses, such as rent, utilities,  and payroll, even when the business  is not generating income.

Expenses incurred if the business needs to move to a temporary location

Any additional costs needed to speed the business recovery process, such as renting equipment or hiring temporary staff

Statistics To Consider

50% of businesses that
do not have the right
cover in place will
experience closure.

Natural disasters cause
an average of 25 hours
of downtime for affected
businesses.

The cost of extreme weather
events is expected to grow
by 5% each year and
reach a total of at least
$35b annually by 2050.

Small businesses lose
an average of
$3,000 per day
during business interruptions.

Scenario

Kelly owns a popular restaurant in Melbourne CBD. Recently, there was a significant fire from a kitchen accident, causing extensive damage to the building. As a result, Kelly needed to close her restaurant completely for repairs that will take several months. During the closure, the restaurant cannot generate any revenue from food and beverage sales. Additionally, Kelly is still required to pay rent, bills, and employee salaries. To ensure she maintains her cash flow in the coming months, Kelly is considering opening up a temporary kitchen elsewhere.

With Business Insurance

With business interruption insurance, Kelly can ensure:

-> All her financial obligations are maintained
-> She is covered by financial losses from the fire
-> She is able to set up a temporary kitchen, with staff and equipment hire covered by the insurance

Without Business Insurance

Unfortunately, Kelly will have to use her business revenue from previous months, and maybe her own savings, to cover her financial obligations. She will also have to cover the cost of setting up a new kitchen.

Safeguard Your Business With
Business Interruption Insurance

CIA offers a tailored approach that ensures you’re properly protected when things go wrong. Our team goes beyond sourcing a cover. We take the time to understand the risks that your business faces and find the right insurance to ensure you’re comprehensively covered in any unforeseen event.

Besides sourcing for the right insurance, we will advocate on your behalf during your time of need. Our team can also help you negotiate a better price for your policy and support you during a claims process, so you can run your business with confidence

Why Choose Consolidated Insurance Agencies?

With a deep understanding of businesses across a range of industries, our brokers can effectively determine your company’s specific risk profile and tailor the right insurance policy - saving you valuable time researching and comparing cover options.

As part of the Steadfast network, our brokers have the power to negotiate better prices and policy terms for you. You can also gain access to exclusive Steadfast policy terms that offer broader and more comprehensive coverage. No matter your needs, we can ensure your risks are covered by arranging customised policy options. This means better business protection at competitive prices.

Enjoy the backing of Australia’s largest general insurance broker network, which manages more than 3.2 million policies for small to medium businesses. As part of the Steadfast network, CIA gives you access to policies across local and international markets - helping you find the coverage you need.

Comprehensive Business Interruption Insurance

Business Protection In Uncertain Times

What Is Business Interruption Insurance?

With Business Insurance

Without Business Insurance

Why Choose Consolidated Insurance Agencies?

Find The Right Insurance Or Review Your Existing Cover Here