IRELAND'S LEADING INSURANCE LOSS ASSESSOR
Business interruption claims can be complex, particularly when loss of income, ongoing costs, and policy wording must all be carefully assessed. At Insurance Claim Solutions, we provide expert loss assessor services in Dublin, helping businesses accurately calculate their losses and secure the full compensation they are entitled to.
Business Interruption Insurance will compensate you for the loss of income resulting from damage or loss of property resulting from fire, storm, flood, burst water pipe, theft or malicious damage.
Loss of revenue resulting from property damage e.g. burnt down or flooded premises frequently exceeds the value of damaged property, so it is important to assess it correctly and submit a claim as soon as possible.
Unfortunately Business Interruption policy cover does not apply automatically.
It is usually an extension to your property insurance policy and it can have several components such as profits, fixed costs, extra expenses etc. You need to make sure that your specific peril cover has business interruption extension. This applies especially to cover for health and public safety issues including Covid 19.
As Business Interruption Claims are rarely straightforward, it is advisable that you speak to an expert Loss Assessor rather than try to file the claim yourself.
It is vital to get in touch with someone early in the process, as the first week is critical in assessing the loss and ensuring a trouble-free settlement.
Policy wording is often open to interpretation and if you are not an insurance expert, you may miss something in the small print.
Although your accountant may be able to come up with projected sales and profit figures, it takes expert insurance knowledge to calculate the maximum entitlement you can claim under your Business Interruption Policy cover.
If you need help with assessing your loss, interpreting your policy wording, or completing your Business Interruption claim, contact us.
We have extensive experience in handling many different types of business claims, from fire damage to floods, water damage, subsidence, burglary, malicious damage, and including Covid-19 business interruption claims.
We have an impressive track record and we pride ourselves in being able to negotiate, in most cases, full compensation, no matter how difficult the claim.
The indemnity period is a crucial aspect of business interruption insurance policies. It represents the timeframe during which the business interruption insurance covers lost profits and additional expenses following a covered peril.
Many businesses need to understand that this period starts from the date of the incident and extends for a specified duration, such as 12, 18, or 24 months. Choosing an adequate indemnity period ensures that the business has sufficient time to recover fully.
The business interruption insurance supervisory framework ensures that business interruption insurance policies are fair, transparent, and compliant with regulatory standards. This oversight is typically provided by regulatory bodies, such as the Central Bank of Ireland, which monitor insurers’ practices and ensure they adhere to industry regulations. This framework protects business owners by ensuring that business interruption insurance policies are interpreted and applied fairly. If an insurer fails to do so, Insurance Claim Solutions will identify and monitor insurers’ approaches, fighting for your rights.
Don’t let the stress of dealing with insurers and repair contractors overwhelm you. Contact us today, and let us handle your insurance claim while you focus on your recovery.
