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Business Interruption Insurance

Overview

ProcurementIQ’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. ProcurementIQ’s Business Interruption Insurance procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard
REPORT SNAPSHOT

Business Interruption Insurance - Recent Price Trend

In the three years to 2018, premiums for business interruption insurance have risen at an estimated average annual rate of 0.6% amid a hardening insurance market. A number of natural and man-made disasters during the three-year period, such as Hurricanes Harvey, Irma and Maria, has contributed to an uptick in claims among policyholders, which has caused insurers to suffer unusually high losses.

Business Interruption Insurance - Total Cost of Ownership

The total cost of ownership for business interruption insurance is high. Buyers must first have a property insurance policy in order to purchase business interruption insurance. Property insurance can cost several thousands of dollars depending on the size of a buyer’s enterprise, which is the main reason why the total cost of ownership is high. Buyers may be able to lower some of this cost.

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About this Report

This report is intended to assist buyers of business interruption insurance. These policies, also known as business income insurance, compensate policyholders for lost income resulting from physical damage to their properties. Policies may also cover policyholders if they cannot enter or exit their property or in the case of a government-mandated shutdown. This report excludes general property insurance, building and contents insurance, supply chain insurance or general liability insurance.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Regulation
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
  Imports
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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