Business Interruption (BI)

The policy cover for losses (the most common is loss of profit due to reduction in turnover, increase in cost of working) resulting from business interruption caused by accidental damage to a building or property used for business purposes at the insured premises.

Traditionally, this insurance requires trigger following property insurance, machinery breakdown insurance or in a combined policy.

As this coverage following property insurance, machinery breakdown insurance or in a combined policy, thus the exclusions are applied for all parts or policy, such as:

• Deductible in the Schedule
• loss or damage to exchangeable tools, e.g. dies, moulds, engraved cylinders
• loss or damage for which a supplier, contractor or repairer is responsible either by law or under contract
• loss or damage arising out of the wilful act or gross negligence of the Insured
• loss or damage as a direct consequence of the continual influence of operation (e.g. wear and tear, cavitation, erosion, corrosion, rust, boiler scale);

• Faulty or defective design, materials or workmanship
• Mechanical or electrical breakdown or derangement of machinery or equipment
• Subsidence, ground heave or landslip
• Wind, rain, hail, frost, snow, flood, sand or dust to movable property in the open or in open sided buildings or to fences and gates
• Money, cheques, stamps, bonds, credit cards, securities
• Land driveways, pavements, roads runways, railways lines, dams, reservoirs, canals, rigs, wells, pipeline, tunnels, bridges, dock, piers, jetties, excavations, wharves, mining property underground, off-shore property
• Livestock, growing crops or trees