With the recent events in Texas coverage triggers will be an important consideration and can have a significant impact on the policy holders final recovery.
- Physical damage – This will usually provide the broadest coverage and is the easiest path to recovery. The physical damages in this case will likely be the result of broken pipes or potentially roof collapses.
- Service interruption – This will usually cover the policyholder for losses related to electric or other power supply interruption. This could include the supply of water or possibly could involve the lack of internet service such as a T1 line. This coverage can be very specific as to what caused the service interruption as well as how far away from the premises the failure occurred.
- Ingress and egress – This will usually cover the policyholder as it relates to access to a particular location. This coverage can be very specific as to whether there is a complete denial of access or whether access is just limited. In addition, there can be restrictions as to proximity, such as within a one mile radius. This often requires physical damage caused by a type of coverage included within the policy
- Civil authority – This will usually cover the policyholder for orders issued by a governmental authority. This coverage can be limited to a period of time usually stated in a number of days.
Imperium Consulting group can assist your clients in measuring the losses related to property damage, business interruption, contingent business interruption and extra expenses. Utilizing Imperium Consulting in the preparation of your clients insurance claims will help expedite the recovery of the claim by presenting a fully documented claim package for insurer review.