NAS Expands Regulatory Business Interruption Coverage

NAS has expanded its Regulatory Business Interruption (RBI) product to include coverage for mandatory and voluntary evacuation. RBI provides companies with extra expense protection, on a per day basis, for business interruption or interference due to business closure by a regulator for perils such as disease, contagion and/or infestation, as well as terrorism, homicide, suicide and/or workplace violence. NAS’ Regulatory Business Interruption protects against new and evolving exposures.

RBI product features include:

• Up to $10,000 coverage per day for a period of voluntary and mandatory evacuation
• Up to $10,000 coverage for legal expenses to contest suspensions
• Coverage available for single location or multiple locations
• 30 days coverage at each covered location for business suspension due to contagion, biological materials, infestation or terrorism
• 5 days coverage at each covered location for business suspension due to homicide, suicide, or workplace violence incident

Qualifying risks include, but are not limited to:

• Restaurants
• Food suppliers/vendors
• Hospitals
• Public health departments
• Schools
• Hotels
• For-profit businesses

Source: NAS Insurance www.nasinsurance.com .

Topics Legislation