No one can predict the future, and with our business interruption insurance coverage, you don't have to. With our Time Element Select ™ option, you choose whichever coverage best meets your needs. And you choose it after a loss occurs—rather than at policy inception—once all the details and impacts are known.
In addition, Contingent Time Element Extended covers not only your immediate suppliers, but your entire supply chain.
It all adds up to unmatched coverage flexibility. Continue reading to learn how we keep your business running and make a positive impact on actual loss payment.
Our Time Element Select option lets you calculate your business interruption coverage two ways—basing it on either production or sales. You choose the method that best meets your needs. And you choose it, with the help of a claims adjuster, after a loss occurs, up to the time of settlement—when both the facts relative to operations and the impact to sales are known. Here’s how the two types of coverage work:
Often referred to as the “gross earnings” form
Based on sales lost due to lost production or downtime at a client’s operations during the entire period up to the point at which full, pre-loss production/operations capability is restored
No preset limit to the period of liability
Often referred to as the “gross profit” form
Based on lost sales
Pays for the period up to the point at which pre-loss sales levels are restored
Subject to a specific time limit, which is typically a 12-month period of liability
Contingent Time Element Extended (CTEE) covers your entire supply chain, helping to keep business interruption to a minimum, no matter where in the world your company operates, or how indirect its connection to the loss. It’s unique in the marketplace—the only contingent time element coverage that extends, without limit to the length of the supply chain, beyond your direct suppliers and customers.
Be able to reroute shipments quickly, and do it with the confidence that those extra costs have a place in our policy. Logistics Extra Cost (LEC) is an innovative coverage that pays for extra costs to reroute a shipment if there’s damage to a transportation system—even if the goods shipped are insured by another company.
Whether you ship by land, sea or air, protect your goods from the moment they leave the warehouse until they arrive at their destination.
Reduce your exposure to property risk, while being environmentally responsible in mitigating that risk.
Get an insurance policy based on engineering and research, not just on actuarial formulas.
You know your company’s supply chain is integral to its success, and that any disruption can be a major threat to business continuity. Our Supply Chain Solution lets you put that knowledge to work.
