By: Mark Anderson, Commercial Loss Adjusters

Duration: 52:54

In these two parts (Note Part 2 will be presented on 9 September 2026) we will delve into areas of the business interruption policy that are often overlooked. 

Across Parts 1 and 2 we will look at:

• The less common Policy items that can be selected, with an appropriate sum insured.
• Clauses
• Memoranda (including Optional)
• Conditions

Not all wordings are the same with wordings varying with:
• Automatic extensions and therefore broader cover. 
• Differences in policy item wordings that can also impact on policy response
• Use of different names for the same Items,

We will discuss:

Policy items

• Book Debts / Accounts Receivable
• Contractual (and Legal) Commitments
• Penalty Payments / Fines & Damages
• Deterioration of Undamaged Stock
• Loss of Lease Goodwill / Key Money

Clauses/ Memoranda/Conditions

• Accumulated Stocks
• Adjustment of Premium
• Alternative Index
• Customers/ Suppliers Premises – Australia
• Departments/ Departmental Clause
• Dependent Business that attracts Customers
• Retail Malls
• New Businesses
• Property in Transit
• Property Not In Use
• Provisional Sums Insured 
• Purchases from Joint Insureds
• Reduced Margin
• Reinstatement of Amount of Insurance 
• Salvage Sale
• Turnover Elsewhere after Damage
• Liquidation, Receivership or Cessation of Interest