Darn Tootin’ You Should Know the Business Income Worksheet!

11/04/2023

1:15 pm

2:15 pm

LEARNING OBJECTIVE:
To teach insurance professionals how the Business Worksheet is a valuable tool used to help determine the appropriate limit and coverage options needed.

DESCRIPTION:
If September 11, the Boston Marathon Bombings, the NJ hurricanes, and most recently, the pandemic of 2020 taught us anything, business interruptions often happen, and this indirect loss after the direct loss impacts a business. Business closures following a catastrophic loss rarely result from the lack of adequate property insurance protecting against the financial consequences of the direct property loss. Most closures arise from the crippling loss of income and profit not adequately protected by insurance. Unfortunately, many lack a simple understanding of the Business Income Worksheet and thus avoid using it as a quick and straightforward way to select not only the accurate limit but also the adequate coverages.