Proven reliability and performance Flexhammer 700 Static Flexhammer 1800 Static Flexhammer 1800 Mobile
Soot Free Combustion
Griple Magnet
Electro Magnet
Eddy Current Seperator
Slow Speed Shredder Paul Caldwell
Phone: 07834 585 247 E-mail:
paul.caldwell@
iqr.se www.iqr.se
• • Review your projected timeframe for resuming
business. Aſt er a major loss, getting up and running takes much longer than you anticipate and can cost much more.
You may be back in business, but your customers
are still going to your competitor. An ‘extended period of indemnity extension’ (i.e. a longer period for which benefi ts are payable aſt er the event) may be necessary to give you more time to restore your business to its pre- loss level.
2. INCREASED EXPENDITURE
T is is designed to pay for necessary expenses incurred during the period of restoration of the property. Increased expenditure includes the additional costs necessary to continue operating the business at its original location or at a temporary replacement location until the original location is repaired. Not all businesses would lose customers aſt er a major loss. For example, a waste operator could retain its clients, and there could still be a fl ow of revenue; however, the costs involved in sourcing and paying for increased tipping gatefees and setting up new phone lines and computers is considerable. Transitions are more expensive than you think.
3. CUSTOMERS AND SUPPLIERS EXTENSIONS
T is is an extension of business interruption cover that is designed to cover loss of income that your business incurs due to a property loss at a key supplier or customer location. For example, if a key supplier experiences a fi re at its plant and is unable to deliver parts or goods necessary for the continuation of your business.
Customers and suppliers extensions are oſt en the most overlooked areas of exposure to loss. Your interdependency on your supplier chain (under contract or not) or one large customer could put your business in jeopardy if that party suff ers a major loss.
It is a common error to be over optimistic about the time it will take your business to get back to the trading position that it enjoyed immediately prior to a loss. Oſt en, because of regulatory and other administrative constraints, 24 months is likely to be the minimum period for a business to fully recover its trading level. Each case however needs to be considered on its individual merits.
Written by Miles Smith Insurance Group 21
Static Slow Speed Plant
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