At the Australian Insurance Summit held in Sydney on Tuesday, a panel of insurance executives stated that around half of all SMEs who have an insurable loss fail within 2 years as a result of inadequate cover.
According to Dr Allan Manning, approximately 84% of SMEs think they are fully insured but almost half fail after an insurable loss as they don't have insurance such as Business Interruption Insurance. Few businesses can afford the loss of earnings that accompany a physical loss to the business premises resulting in damaged or destroyed stock and or equipment.
Business Interruption Insurance can help to ensure that your business will be in a financial position to continue operating.
For further information regarding Business Interruption Insurance please contact our office on 03 8646 0222 or 02 8907 8600. Click here for a broker to contact you.