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Volume 29, Issue 2

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Business Interruption Insurance

Written by  Janette Ballman Thursday, 22 November 2007 03:33

Coverage Could be the Difference Between ‘Staying in Business’ and ‘Out of Business’ A fire rages through a restaurant, destroying the structure and leaving employees with no work and the business owner with no income. A property insurance policy will cover the rebuilding of the structure, but will the business survive to occupy the new establishment? How will the owners handle the loss of income while still retaining their trained employees and established clientele? How will ongoing expenses such as payroll, taxes, and utilities be met? The answers to these questions are as close as your insurance agent. Policies exist that can provide coverage for all of these scenarios and more. Business interruption insurance is designed to minimize your risk in the event of a loss. Key benefits include protection against reduced income, payment of continuing expenses, and maintaining salaries of key employees. One restriction is that the interruption or suspension of business


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