CNP ΑΣΦΑΛΙΣΤΙΚΗ - Business Interruption

Business Interruption

Business Interruption

This insurance program covers the financial consequences to a business arising from the interruption of its operations as a result of a fire or any other insured risk. A businessman should not only be interested in protection against the damage or destruction of his/her property but also about the period of time during which the operations of his/her business will be interrupted which will cause further financial loss. CNP ASFALISTIKI undertakes the risk of this uncertainty by ensuring the provision of the widest possible coverage to businessmen.

A Fire Insurance Policy is required for the issuance of a Business Interruption Insurance Policy.

BENEFITS

Coverage of Fixed Costs

Provision of coverage for the payroll and all the other fixed costs (rents, premiums, etc.) of the business.

Flexibility of Choices

Option to select the Compensation Period.

WHO IS THIS FOR

Shopkeepers, factory owners, hoteliers and other people (professionals, businessmen, organizations). The Business Interruption Insurance Policy is dealt under Financial Loss Class.

HOW TO GET IT

HOW DOES IT WORK

CHARACTERISTICS & OPTIONS

  • Basic Coverage

    The Basic Coverage of the Insurance Policy includes:

    • Loss of Gross Profit as a result of total or partial interruption of the business’s operations due to loss of or damage to the contents and/or the building of the company caused by fire, lightning or explosion of boilers or gas cylinders used for domestic purposes for a predetermined period (Insurance Period).
    • The payment of additional expenses aiming at limiting the interruption such as use of temporary premises, rental of furniture, spare parts or telephones, etc.
  • Additional Coverage

    The Additional Coverage of the Insurance Policy includes:

    • Loss of Gross Profit caused by earthquake, volcanic eruption, storm, tempest, flood, malicious damage, bursting of water pipes or overflowing of water tanks, riots, strikes, impact by vehicles or airplanes, explosion, fire resulting from bush fire
    • Auditors' fees for preparing the necessary documents after an incident

COVER EXCEPTIONS

The policy is subject to certain exclusions, some of which are:

  • war, acts of terrorism, nuclear radiation, environmental pollution
  • interruption of operations due to short circuiting or self-heating of any electrical plant or apparatus, subsidence and landslide
  • interruption of operations due to loss or damage to the boiler that caused the explosion (it is offered as an optional coverage)
  • loss or damage to stock that was stored below street level (or underground) and was not placed on shelves of at least 15cm height

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