Business Interruption Insurance & Claims: Questions & Answers

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Chapter 3

Q3. 1

A checklist of information and documentation assists a policyholder in gathering the information needed to lodge their claim.



Q3. 2

A claims checklist of information and documentation designed to assist a policyholder in gathering the information required for a claim, is not relevant where there is no insurance and a recovery action against a negligent third party is being contemplated.



Q3. 3

A lease agreement provides information on:






Q3. 4

When seeking to recover from a third party under the tort of negligence, you are generally required to prove which of the following:






Q3. 5

It is not necessary to photograph or video the damage as the loss adjuster or investigator appointed by the insurance company will do this.



Q3. 6

As the policy of insurance provides for ‘reinstatement and replacement’ (new for old), there is no need to provide copies of original invoices on items destroyed.



Q3. 7

A business interruption claim will always be based on the insured company’s forecast prepared prior to the loss.



Q3. 8

All costs that are incurred as a direct result of a disruption should be documented and copies provided for inclusion in the business interruption claim.



Q3. 9

When considering the Turnover achieved by the business following the loss, the only revenue that is brought to account is the revenue generated from the affected premises.



Q3. 10

Most clients are quite capable of preparing their own claim, even complex ones involving business interruption.



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