Business Interruption insurance post-pandemic.
📉 Business Interruption Insurance in Canada: Post-Pandemic Lessons & Evolving Expectations 🇨🇦
The COVID-19 pandemic exposed a significant gap in many commercial insurance policies—business interruption (BI) coverage that failed to respond to non-physical losses. In the aftermath, Canadian businesses are rethinking how BI insurance fits into their broader resilience strategies.
🔍 What the Pandemic Taught Us
• Traditional BI policies typically require physical damage to trigger coverage
• Government-mandated shutdowns often fell outside the scope of standard wording
• Many businesses realized too late they lacked contingent or pandemic-related protection
🏢 The Shift in Thinking
• A growing demand for clarity and customization in BI policies
• Rising interest in contingent BI, civil authority clauses, and supply chain interruption coverage
• Brokers are now expected to clearly communicate both inclusions and exclusions
💼 How Canadian Businesses Are Responding
✅ Reviewing policy triggers and indemnity periods
✅ Exploring parametric insurance and other specialty products
✅ Investing in business continuity planning and risk mitigation
✅ Asking better-informed questions—and expecting transparent answers
🛡️ Business interruption coverage can no longer be an afterthought. In a post-pandemic world, it’s a cornerstone of a resilient and forward-looking risk management strategy.
📣 Is your BI coverage aligned with today’s evolving risks? Let’s connect and explore how to bridge the gap between uncertainty and protection.
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