This time of year is always a good reminder to brush up on basic
insurance coverage principles relevant to your industry. Business
interruption risk poses a problem for every company, no matter its
size or industry; making sure your company understands what
coverage it has to protect against this risk is important.
After doing a presentation on business interruption coverage
with Grant
Thornton's Forensics Advisory Services Group this summer, I
was reminded how complex a claim for business interruption can be
and the value that is added by having a good forensics accountant
and coverage counsel aiding in the claims process.
Generally speaking, business interruption and extra expense
coverage provides for lost revenues and expenses spent to restore
your company. This type of coverage is typically found in property
policies and is triggered if there is physical damage to covered
property due to a covered loss that results in an interruption of
operations. We commonly
