We are honored to be awarded the European Risk Management Award 2018 in the category Insurer Innovation of the Year.
Why do Business Interruption policies work so well? And what makes the formula so flexible?
The new index-based product is designed to protect companies in Europe from the financial impact of high or low river water levels, such as lost revenue due to business interruption or increased costs due risk mitigation measures.
Business Interruption policies are unique in that they require both a sum insured and a Maximum Indemnity Period (MIP). Through our conversations with risk and insurance professionals, it is evident that accurately establishing the Business Interruption value with an adequate sum insured and an appropriate Maximum Indemnity Period is a constant challenge.