When most people think about property insurance claims, they think of building or contents losses. In many cases, a property loss can further result in consequential loss, or business interruption, if the company cannot generate revenue while waiting for rebuilding, repairs, or replacements. Additionally, this loss is often far greater than the direct loss of physical property.
Business Interruption Insurance is designed to cover loss of business income due to a covered property loss, as well as the extra expense that is incurred to continue operations and/or mitigate the loss. In considering this insurance coverage, one can imagine the importance of determining the appropriate amount of business interruption insurance, as well as sourcing competitive terms from insurance carriers.
Thomas Gregory Associates assists clients in determining appropriate business interruption insurance limits and then places the coverage with competitive insurance carriers. We continually consult not only with the insurance community, but with our business associates in the public accounting sector in keeping up to date on any changes that might impact strategies for placing business interruption insurance for our clients.