Home | About Us | Contact Us | Site Map | Media | FAQ | Calendar

New Businesses | Business Purchases | Established Businesses | Technology Businesses | General Information

11/20/2006

Business Interruption Insurance
by Phil Harris, Business Consultant, UALR Lead Center

Most businesses carry various types of essential insurance coverage such as fire, liability, automobile, and workers’ compensation. But, there is another type of insurance that can prove to be just as important to your business. This type is Business Interruption Insurance.

In the event your business is forced to suspend operations temporarily because of fire or other similar circumstance, business interruption insurance can provide funds for salaries to key employees, taxes, interest, utilities, and even lost profits. Many risks might cause an interruption of your business, such as physical damage to your real and personal property (buildings and contents) from a catastrophic event, such as a tornado or ice storm. The magnitude of the loss of income that could result is determined by the type of loss, when it happens, and how long it will take to resume operations. There are variations of this type of insurance and the extent to which it will cover your risks.

For more information, go to http://asbdc.ualr.edu/bizfacts/6003.asp, or contact your insurance agent.

Recent | 2007 | 2006 | 2005 | 2004 | 2003

Subscribe right now to our FREE bi-monthly E-News service!
You will receive articles two full weeks before they appear on the Arkansas SBDC web site!

Index of 2006 articles

 
 

Arkansas Small Business and Technology Development Center
University of Arkansas at Little Rock - College of Business
Donald W. Reynolds Center for Business and Economic Development
2801 S. University / Little Rock, Arkansas 72204
Phone: 501.683.7700   Fax: 501.683.7720

Privacy Statement / Accessibility
webmaster@asbtdc.ualr.edu

The Arkansas Small Business and Technology Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran's status, or disability.