17th February 2015

A Loss Assessor’s Role in Business Interruption Claims

Fires, floods, and theft can be particularly devastating when your property is also your livelihood.

Road closed sign

The sudden and unexpected loss of stock, premises, or other assets can put the very future of your business at risk.
It’s for this reason that business interruption insurance exists. They enable you to recover any losses incurred in your gross profits, whilst also covering any additional business costs, such as the rental of temporary premises.

Business interruption insurance is an essential lifeline, as it can provide coverage until your business can once again operate at the normal level – that is, the way things would have been without the fire, flood, or theft.

However, for various reasons, it is not enough to simply claim for business interruption. It’s not uncommon for businesses to encounter the sort of problems that have the potential to make things even worse. You might find, for example, that your policy’s indemnity period is not sufficient to cover the time it will take your business to fully recover. You may also find that your business is underinsured, or that you are unable to claim for the full extent of your loss.

How a Loss Assessor Can Help

It’s here that the services and insight of a professional loss assessor will prove invaluable. At Harris Balcombe, we have helped thousands of businesses from a wide range of sectors to recover from disaster, and make the most of their business interruption claims.

When it comes to business interruption, a loss assessor can help you to compile a thoroughly detailed claim, accurately calculating your loss of profits in order to ensure that your claim adequately covers everything lost, whether it’s tangible or otherwise.

Based on an intelligent interpretation of your business forecasts, our loss assessors will evaluate your total loss, resulting in an accurate projection of how your business would have performed over the period of the claim. Our experienced loss assessors are experts when it comes to interpreting market trends, seasonal factors, inflation, and budget forecasts, which makes their business interruption claims amongst the most accurate in the industry.

In business interruption claims, loss assessors also work to mitigate the risks of shortfall through underinsurance, and to avoid any of the issues that arise through insufficient indemnity periods in your insurance policy. They will work with you throughout the entire claims procedure, doing all they can to ensure your business’s recovery, and future.

For more information on business interruption claims, or to speak with one of our professional loss assessors, call our 24/7 national helpline on 0844 544 1699.

Image credit: Elliott Brown.

Call our 24/7 helpline on 0330 022 9179 for a free no obligations assessment

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