A few years ago, the Nike retail store in New York City was closed by the public health department due to a bedbug infestation in the store.  No doubt their reputation took a hit, but what about their bottom line? I wonder how many sales were lost?  How much did it cost to rid the business of the bugs? And were the employees paid during the shutdown?

What about your business? What if the health department closed your doors because of a violation? If you are a restaurant or hospitality/property management company, the lost income and costs to rid your business of bedbugs could be high. You may think, “I’m up to code, it won’t happen to me.” But what about circumstances that are out of your control?  Workplace violence is occurring more and more often, and if it happened in your business, you would be forced to close unexpectedly, at least temporarily. Could you survive the financial loss? Think about how long the movie theater in Colorado was shut down so authorities could investigate the mass shooting at the Batman premier.

While none of us want to think about our business closing for either of these reasons, the fact is it could happen.  How can you protect your business and your bottom line? The Outbreak Extra Expense policy. The policy provides coverage in the event business operations are suspended, whether due to a covered contagion (a disease transmission by direct or indirect contact including Legionnaires, flu, e-coli, Methicillin-Resistant Staphylococcus Aureus (MRSA), Salmonella, Norwalk virus, and many other viral and bacterial contagions), infestation by vermin or pests, or workplace violence.  This specialty policy coverage could assist you in getting back to normal business operations after a shut down. The policy proceeds are used at the insured’s discretion with no cumbersome business interruption claims settlements necessary.

Every businesses’ needs are unique, so contact your independent insurance agent to learn more about this coverage and to see if it’s right for you.

Has your business ever closed unexpectedly?  What were the circumstances and how did you recover?