We are thoroughly experienced in the management of Business Interruption or “Loss of Profit” claims following property damage (e.g. fire, flood, leak, storm damage claims).
The management of the physical damage claim is intrinsically tied to the management of the business interruption claim.
The “indemnity period” for which the claimant will receive Business Interruption compensation, is largely derived from the projected programme of reinstatement works. Frequently, a portion of the physical repairs works.
which are carried out with the purpose of mitigating against “loss of profits”, will fall due to for payment under the Business Interruption or “Increased Cost of Working” section of the policy.
Our pace of work enables businesses to rebuild and reopen as quickly as possible. We advise our clients on how to best utilise “Increased Cost of Working” cover to enable rapid reopening, typically in an emergency format.
Such emergency situations require quick decision making supported by a confident interpretation of insurance cover.
In our experience, optimal use of a business interruption insurance often has a crucial bearing on business survival after an emergency event such as a fire or flood.
We calculate our business interruption claims to compensate beyond the point of business re-opening.Our business interruption claims are assembled with the objective of your business being compensated up to the point where revenues are restored to pre-incident/damage levels.
In addition to our many satisfied “claimant” clients, we have advised countless associated professionals such as accountants, solicitors, barristers and several of the country’s leading insurance brokerages on the interpretation of business interruption insurance policies.
We will continue to provide our clients with strong representation & decisive advice. We are happy to provide a free consultation to further explain our services.
Covid-19 Business Interruption Claims
We have a wealth of experience in dealing with business interruption losses at all levels varying from café claims and shop claims to large commercial claims and industrial claims, even semi state body claims. Following the outbreak of the Covid-19 pandemic we briefed an Oireachtas Finance committee on concerning insurance company behaviours in response to Covid-19 business interruption claims.
We have also petitioned the Central Bank of Ireland regarding the regulation of the insurance industry’s response to the Covid-19 pandemic.
As part of our response to the Covid-19 Insurance scandal, whereby several insurers were found to have unfairly denied cover, we established businessinterruption.ie.
Businessinterruption.ie is a campaign website with the purpose of aligning similarly insured businesses behind legal challenges – where a valid case exists.
The businessinterruption.ie campaign continues into 2023 as we continue to press for further test cases. The campaign is supported by leading solicitors, barristers, and many large business groups. At present we are seeking to speak with businesses who were insured with the following companies in March 2020:
- SUS (Specialist Underwriting Services)
- RSA Hotel Insurance
- Chubb Hotel Insurance
- Accelerant / NBS (Nightclub and bar insurance
- Allianz