Quality cover from the interruption experts

IUA Interruption Insurance is a standalone cover that sits alongside other business insurance, such as business packages and industrial special risks.

It protects the turnover of the business from a downturn due to interruption of trade, resulting from a range of insurable events. This means your client can recover and get back to the same financial position they were in before the event happened – protecting their business and livelihood. IUA’s Interruption Insurance can cover the loss of any sales that a business would have made whilst out of action – as well as various other costs that may be incurred in reopening the doors of a business after a difficult period.

Policy features and benefits

With IUA Business Interruption Insurance, your clients will enjoy:

Business interruption insurance with extra benefits

Insured Gross Profit

We calculate the payment your client will receive by using the agreed rate of Insured Gross Profit stated in the Policy Schedule, so your client knows what they can expect from the outset. This calculation is set out in our Worksheet .

Unlike some other interruption insurance products, IUA’s product doesn’t apply an average clause to under insurance. Instead, your client has the option of selecting their own limit without attracting a penalty.

After Loss Costs

We cover the costs that your client needs to pay while their business is out of action, including:

  • Accounts Receivable
  • Additional Increased Cost of Working
  • Claims Preparation Costs
  • Expediting Expenses
  • Increased Cost of Working
  • Relocation Expenses
  • Rewriting of Records
  • Severance Pay
  • Wages and Salaries

Capacity for tailored cover

In certain situations, we can customise our Interruption Insurance cover to meet the needs of particular clients. This may include adding cover for:

  • Overseas customers and suppliers
  • Drawcard premises
  • Prevention of access extended to include bushfire
  • Goodwill
  • Flood

Additional Benefits*

    • Public Utilities Extension
      • Sub-limit of liability up to $1 million
      • No waiting period
      • Covers land based property in Australia
    • Suppliers’ and/or Customers’ Premises
      1. Sub-limit of liability up to $1 million
      2. No waiting period
      3. Covers property damage at premises of any merchant, producer or services utilsed by Insured
    • Infectious or Contagious Diseases, Vermin, Pests or Defective Sanitary Arrangements; Murder, Suicide
      1. Full policy limit
      2. No waiting period
    • Premises in the Vicinity (Prevention of Access)
      1. Full Policy Limit
      2. Covers loss due to restricted access by an authority resulting from property damage (actual and the threat of)
    • Extended Indemnity Period
    • Property Away from the Premises
      1. For the Insured’s own property as well as property the Insured uses and is responsible for
      2. Australia-wide cover
    • Property in Transit
      1. Limited to the lesser of 10% of the maximum limit of liability or $50,000
    • Registered Vehicles, Plant & Equipment
      1. Providing such items are at the Premises used by the Insured

* Amounts paid for Additional Benefits will not exceed any limits or sub-limits of liability as per the Insured’s Policy Schedule.

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