Lulu Marketplace

US Fire Administration and National Fire Protection Association (NFPA) statistics indicate that between 115,000 and 130,000 business-related structures suffer fire damage every year; that’s one structure every five (5) minutes. Between 25 and 33 percent of these business never reopen or close shortly after reopening, not because of the lack of property insurance but due to the lack of or improperly designed business income protection. Without income, no business can survive very long. Insurance agents and brokers either fail to sell or improperly structure business income coverage; setting their clients up for business failure following a major loss. Business income and/or extra expense are the MOST important property coverages any insured can purchase; and the coverage is not nearly as mysterious as agents believe. Remove the mystery and discover how simple business income coverage really is. Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, has been an insurance practitioner for over 18 years.