Business interruption, or consequential loss coverage is one of the main guarantees for the continuity of the company after damage. After all, the gross profit margin (partially) drops off, while the cost behavior pattern is limited or delayed in its response to the effects of the emergency.
The existence of clauses for extended or limited coverage only solve this problem to a certain extent. Furthermore, the (market) effects of unplanned stagnation often last much longer than the period necessary to restore material damages.
Why business interruption
Business interruption coverage
Why business interruption advice: in practice, the amount or the agreed upon term of the business damage coverage regularly does not provide the desired security.
In this way, the insured amount is often based on dated information and/or an incorrect calculation method and as a result, the development of the enterprise, market circumstances, and business relationships with consumers and suppliers are often then insufficiently taken into account.
Troostwijk is an independent valuation and expertise agency with fully independent operations. For this reason, we can take an unbiased look at your interests and risks.
Troostwijk Loss Assessment is the largest loss assessment agency in the Netherlands. Our experts are active on all aspects of the claims settlement process: from buildings, machinery and equipment, goods and business damage.
Our professional specialists are certified by the Register of Experts and are annually tested for whether they still meet the training requirements set by the NIVRE.
We operate in all segments of the commercial sector, the non-profit sector, and semi-government institutions. Our experience with the claims settlement process extends from SMEs to stock-listed enterprises.
Our method of operation
Our advice can be implemented at multiple levels. This can be done as a “quick scan”, but also on the basis of an extensive analysis and with a complete report. You will be consulted throughout the process.
The assessment calculations for business damage benefits are performed based on current figures and future prognoses.
Together with you and your insurance broker, we will analyse the degree to which your enterprise is reliant on internal and external factors and the way in which this can be integrated into the business damage coverage.
Depending on your wishes, reporting can be done verbally or in writing. Desired modifications to policy conditions will be discussed with you and your insurance broker, who will implement these changes in consultation with the insurance company.