According to FEMA and the Small Business Administration, 40% of businesses donot reopen after a catastrophe or other disaster, and another 25%fail within a year.
What can businsses do to help their chances of surviving anincident?
The answer is business interruption coverage. Also known asbusiness income insurance, business interruption insurancecompensates policyholders for lost income if their company has tovacate its premises due to disaster-related damage that is coveredunder a property insurance policy, such as natural catastrophes,supply chain disruptions or cyber risks.
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