https://know.armourinsurance.ca What you need to know about insurance today. Mon, 27 Dec 2021 22:25:29 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/know.armourinsurance.ca/wp-content/uploads/2022/06/cropped-cropped-Armour-A-400x400-1.jpg?fit=32%2C32&ssl=1 https://know.armourinsurance.ca 32 32 214683212 https://know.armourinsurance.ca/knowledge-base/if-i-face-a-business-interruption-what-steps-can-i-take-to-get-back-in-business/ https://know.armourinsurance.ca/knowledge-base/if-i-face-a-business-interruption-what-steps-can-i-take-to-get-back-in-business/#respond Mon, 27 Dec 2021 22:25:27 +0000 http://know.armourinsurance.ca/?post_type=lsvr_kba&p=184

If I face a business interruption, what steps can I take to get back in business?

• Reduction of capital reserves
• Bank loan
• Increasing product prices
• Purchase of adequate limits of Business Interruption insurance

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How do deductibles work in Commercial Insurance?

• For any claim situation, a deductible is only applied once and is payable by the insured before the insurance company pays for damages.

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General Liability insurance protects the financial interests of your company, and business owners in the event that they face formal lawsuits or some sort of third-party claims. Such policies cover any direct financial liabilities incurred, as well as any legal defence expenses.

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What is Business Interruption Insurance?

• Business Interruption Insurance protects the profits and cash flow of your business to help ensure it’s in relatively the same position after an incident that results in financial loss. Essentially, it’s a loss of income insurance.

• Why Business Interruption Coverage is Essential
  • It protects the business owner’s interests and assets
  • It protects the business owner’s confidentiality, with respect to our professional code of conduct and privacy commitments
  • It offers the opportunity to discuss business continuity planning and consideration of possible safeguards that could exist within the organization

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