Some insurers cover Business Interruption or Contingent Business Interruption (CBI) losses that do not result from actual physical damage to a policyholder’s or its suppliers’ property.
Under the property policy written by Factory Mutual Insurance Co. (which does business as FM Global), CBI coverage is not limited to loss resulting from suppliers’ facilities that are compromised.
If policyholders can adequately identify their suppliers, the insurer can provide up to $100 million in limits covering CBI losses stemming from utility-service interruptions; actions by civil and military authorities; blockage of ingress and egress; and construction delays, says Gary Love, vice president and staff operations underwriting manager at FM Global.
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