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Your Questions Answered

Get straight and simple answers to all your business insurance frequently asked questions.

These FAQs were gathered from Canadian business owners like you.

How is a business interruption claim calculated?

Different types of Business Interruption coverage will determine how payout is calculated. Most policies cover reimbursement for profits your business would have earned based on the prior month’s performance, in addition to extra expenses beyond fixed costs. Employee wages, taxes, and loan payments may also be taken into account.

Can you get Business Interruption Insurance as a standalone policy?

Business Interruption Insurance is typically included in a commercial property insurance policy or business owner’s policy (BOP). You can add it to an existing policy as a rider.

Does Business Interruption Insurance cover pandemic (e.g., COVID-19) related closures?

Standard business interruption insurance provides coverage for damages sustained due to direct physical loss or damage, such as a fire. Unfortunately, it will not cover income lost or barriers to trade and travel due to a pandemic, infectious disease, or government-mandated closure.

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