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
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