Contingent Business Interruption Insurance

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Contingent Business Interruption Insurance Contingent business interruption is a form of small business insurance that provides financial assistance when the loss of a primary supplier, partner, or customer affects your ability to do business. Contingent business interruption coverage can help your business if you lose significant revenue and are unable to continue to do business after a key supplier, business partner, or customer shuts down. It’s a form of small business insurance that is typically added as a rider to a business interruption insurance policy. It provides cash to help you cover payroll, rent, and other expenses necessary to keep your business open. As with business interruption insurance, the closure typically must be related to a commercial property insurance claim. Businesses that need contingent business interruption insurance: -An IT staffing agency that generates 80% of its revenue from one client -A print media publisher that relies on a single print company An accountant on retainer for a law firm -A restaurant that relies almost exclusively on foot traffic from a neighboring shopping mall In all of the above cases, the businesses depend on a single manufacturer, supplier, customer, or business generator for their future survival. Each would benefit highly from purchasing contingent business interruption insurance. #BeNewinsurance #InsurTech #inclusiveinsurance #insurance #reinsurance #takaful #climatechange

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