Surviving interruption after a disaster
{Sponsored} When an approaching storm threatens your business, you likely have taken extra measures to prepare your facilities for what’s about to come. Structures have been reinforced, important documents have been backed up electronically and procedures have been put in place to keep staff safe. But have you prepared for possible Business Interruption?
Hortica® offers Business Interruption insurance solutions to replace lost profits and fund continuing and extra expenses in the event that your business must temporarily close due to a covered loss.
Interruption may often be caused by weather, ranging from lightning fires to windstorms and even severe natural disasters like hurricanes. Other causes include:
• Vandalism
• Equipment breakdown
• Greenhouse collapse
• Power interruption
• Water interruption
• Communication interruption
Hortica protects your business from further losses by covering critical aspects of your business while operations get back up and running:
Revenue – Profits your business normally would have earned while it is temporarily closed due to a covered loss. Claims are paid based on business trends and your financial records.
Continuing Expenses – Normal operating expenses that must be paid to continue operations, including payroll, loan payments, taxes, utilities, etc. Bills and other expenses you are obligated to pay will not stop coming in just because operations have suddenly stopped. Will your bank allow you to defer a payment? Will you be able to keep up with salaries for key personnel? Continuing Expense coverage solutions from Hortica will relieve you of worrying about these questions.
Extra Expenses – Additional expenses may even occur from trying to avoid or minimize losses. For example, establishing a temporary location to keep your business running. Think about the costs associated with moving equipment, transporting product, renting a facility, etc.
Hortica’s Business Interruption insurance also covers when civil authority, such as first responders or police, block access to your business. Civil Authority coverage occurs when access to your property has been prohibited by civil authority due to damaged property (other than your own insured property) and the civil authority’s action is in response to dangerous physical conditions caused by that damage or to enable a civil authority unimpeded access to the damaged property.
A waiting period of 48 hours is usually required before coverage goes into effect. Coverage lasts no longer than a designated period of time, until access is restored or no more than four weeks, whichever is longer.
As you plan for keeping your business safe during natural disasters, keep in mind how business interruption could affect your ability to make a profit. Can you afford these additional losses?
Talk with a Hortica agent to see how Business Interruption coverage can benefit you, or visit www.hortica.com.
Hortica® property and casualty coverages are underwritten, and loss control services are provided, by Florists’ Mutual Insurance Company and Florists’ Insurance Company, members of the Sentry Insurance Group. For more information, visit hortica.com. Policies, coverages, benefits and discounts are not available in all states. See policy for complete coverage details.
77-69A 14002098 8/29/17
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