Failure to understand the subtleties of a policy wording could result in unpaid claims - Echelon
Echelon Claims Consultants says businesses need to understand the relevance of their business interruption (BI) policy and ensure the cover fits the risk.
The company was responding to recent reports that insurers are making it more difficult to claim under BI insurance.
Echelon managing director, Candy Holland, said: "The failure to understand the subtleties of a policy wording properly can be expensive.
"Issues as simple as the calculation of the policy deductible, through to an additional increase cost of working, clause can provide policyholders with a challenge if the operation of these elements of the policy is not clear.
"We are finding increasingly that businesses are seeking claims certainty from their BI policy."
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