Business Interruption

At Axis, we understand that being proactive and establishing early control is key to the successful handling of any business interruption loss. In addition, we have significant experience in major energy losses and are fully conversant with the operation of power purchase agreements. Where appropriate, our team of loss experts work with selected expert forensic accountants to achieve the best possible outcome in this critical category of the insurance sector.

Approach

Business Interruption losses can be extremely complex and require a prompt and well-managed approach. Where required, we draw upon the expertise of specialists, including engineers and forensic accountants. We understand that we have an important role to play in identifying loss mitigation measures and savings. At the outset of our site investigations, we ensure that all critical production and financial data and marketing information are secured for analysis to determine the effects of the loss upon the business. By maintaining constant contact with the Insured and through regular team meetings, we monitor loss projection and keep our clients fully updated.

Business Interruption

Activities

Our team of experts are familiar with:

  • US, London and European Market derivative business interruption wordings
  • Operational risks and issues relating to advance profit and DSU claims
  • Standard difference wordings
  • Net profit plus standing charges
  • Dual basis and output method of calculation
Recent Projects

We have dealt with major Business Interruption issues resulting from the following:

  • DSU issue following nomination on power plant construction project in the USA
  • Failure of a diesel engine at a power plant in the Caribbean
  • Windstorm damage to hotels and resorts in the Caribbean
  • Major furnace lining failure of smelter in the UK
  • Explosion damage in large Brazilian petrochemical plant

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