Losses from Business Interruption (BI) are often far greater than other losses such as property damage.

Yet since BI risks come in many guises - including natural perils, man-made disasters and supply chain breakdowns - many organisations may not have adequate insurance cover for all the risks they face.

Cases where businesses suffer significant financial losses because of lack of cover occur with alarming regularity.

Critical questions you need to consider

• Have you analysed all your BI risks? For example, have you properly analysed the financial impact across the whole business for the loss of a key facility?

• Are you analysing your supply chain dependencies - are you overly dependent on one supplier for the production and delivery of your product or service?

• If something does happen, do you have business continuity mechanisms to allow you to operate?

• Is your conventional cover enough - might you need relevant extensions such as denial-of-access? Are you failing to tailor the coverage to the needs of your business?

• Are you over-insured in some areas and under-insured in others?