Ignition Australia Ignition June 2017 AUS JOOMAG | Page 7

BUSINESS
INterruption
One of the most important protections for business,
but the least one taken up. - by Dr. Allan Manning
Business Interruption has taken Take a few seconds to think who
the number 1 spot for the 5th year would get what is left if, heaven
running as the single biggest risk forbid, your premises caught fire at
facing businesses as determined 2:30am tomorrow morning. Would
by an international survey of risk it be you and your family or the
managers. bank or other financier. How are
T hr ough my own r e sear c h, I you going to keep paying the wage
know that 50% of businesses who bills including your own, mortgage
suffer a medium or large loss fail and lease repayments, and all
within 2 years and that business the other ongoing expenses. This
inter r uption is the insurance is where Business Interruption
protection that can prevent this insurance steps in. It continues to
statistic from going higher. pay you your net profit plus all the
Most of us in business think to
protect our assets, such as our
cars, our business contents and
Dr. Allan Manning is one of Australia’s most
academically qualified insurance professionals
if we own our own building, then
having lec tur ed at a number of ter tiar y the building. We should also
institutions, delivering over 1,250 papers on protect against our liabilities with
insurance and risk management topics. With
over 45 years in the industry, Dr. Manning now protection such as public and
acts as a client advocate on claims, an expert products liability insurance.
witness, conducts policy program reviews and
drafts insurance wordings. I soon realised after starting my
He is currently president of the International career in claims over 45 years ago
Institute of Claims Preparers and has been
rated in the top 20 most influential people in that the postman does not stop
Australian insurance for the past 6 years. He coming with bills after the fire
was awarded the Life Time Achievement Award
at the 2012 Insurance Industry Awards and truck has driven off or the storm
honorary life membership of the Australian and has passed.
New Zealand Institute of Insurance and Finance.
ongoing expenses of your business
and even new ones such as renting
temporary premises or equipment.
Of those Members
with Capricorn Mutual,
nearly 50% do not have
Business Interruption
Protection.
Are you in that group? I recommend
you speak to your local Capricorn
Risk Account Manager to determine
the right amount of Business
Interruption coverage for you –
and don’t delay!
Products sold through Capricorn Risk Services Pty Ltd (ABN 91 111 632 789) are: (i) discretionary risk protection
products issued by Capricorn Mutual Ltd; and (ii) general insurance products issued by a range of insurers and
brokered through Capricorn Insurance Services Pty Ltd. Before deciding to acquire any product you should
consider the Product Disclosure Statement available from Capricorn Risk Services Pty Ltd to see if the product is
appropriate for you. Capricorn Risk Services Pty Ltd is a Corporate Authorised Representative (No. 460893) of
Capricorn Mutual Ltd (AFSL 230038) and Capricorn Insurance Services Pty Ltd (AFSL 435197).
RISK SERVICES
CAPRICORN IGNITION JUNE 2017 7