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‍1. What is it?

Business Interruption Insurance is a crucial policy designed to protect your business in the event that its operations are temporarily halted due to a fire or other covered risks. This insurance provides financial support to compensate for lost profit resulting from an unforeseen event, ensuring business continuity even in critical situations.

2. What does It cover?
  • Loss of Profit Compensation: In the event of a business interruption due to a disaster, the insurance compensates the profit you would have generated if the incident had not occurred.
  • Operating Expenses Coverage: Even if your business is temporarily halted, the insurance provides resources to cover essential expenses such as utilities, employee salaries, and other financial obligations while the affected property is being repaired.
  • Reimbursement of Additional Expenses: If you incur additional expenses to mitigate losses (e.g., renting temporary space), these expenses will be reimbursed by the insurance.

‍3. How to obtain It?
  • Obtain Property Insurance: Business Interruption Insurance can only be purchased in conjunction with a Property Insurance policy, which covers direct damages to your building or equipment.
  • Assess Your Business Needs: Before purchasing the policy, evaluate the most relevant risks to your business and determine the expenses that need coverage in case of an interruption.
  • Consult an Insurance Broker: A specialist can help you select the most suitable policy based on your business's specific needs and understand all policy terms.
  • Determine Coverage Amounts: Assess the potential profit loss in such a situation and the necessary operating costs to determine the appropriate coverage amounts.
4. Useful Tips
  • Complete Coverage: Business Interruption Insurance is most effective when paired with Property Insurance, providing comprehensive protection for your business.
  • Plan for Unforeseen Scenarios: Having this policy is crucial to ensure your business can financially survive an event that might temporarily halt operations.
  • Review Coverage Clauses: Ensure your policy covers all essential expenses, including those for additional costs needed to keep the business operational in another location or to minimize losses.
1. What is it?

Business Interruption Insurance is a crucial policy designed to protect your business in the event that its operations are temporarily halted due to a fire or other covered risks. This insurance provides financial support to compensate for lost profit resulting from an unforeseen event, ensuring business continuity even in critical situations.

2. What does It cover?
  • Lost Profit Compensation: In the event of a business interruption due to a disaster, the insurance compensates the profit you would have generated if the incident had not occurred.
  • Operating Expenses Coverage: Even if your business is temporarily halted, the insurance provides resources to cover essential expenses such as utilities, employee salaries, and other financial obligations while the affected property is being repaired.
  • Reimbursement of Additional Expenses: If you incur additional expenses to mitigate losses (e.g., renting temporary space), these expenses will be reimbursed by the insurance.
3. How to obtain It?
  • Obtain Property Insurance: Business Interruption Insurance can only be purchased in conjunction with a Property Insurance policy, which covers direct damages to your building or equipment.
  • Assess Your Business Needs: Before purchasing the policy, evaluate the most relevant risks to your business and determine the expenses that need coverage in case of an interruption.
  • Consult an Insurance Broker: A specialist can help you select the most suitable policy based on your business's specific needs and understand all policy terms.
  • Determine Coverage Amounts: Assess the potential profit loss in such a situation and the necessary operating costs to determine the appropriate coverage amounts.
  • 4. Useful Tips
  • Complete Coverage: Business Interruption Insurance is most effective when paired with Property Insurance, providing comprehensive protection for your business.
  • Plan for Unforeseen Scenarios: Having this policy is crucial to ensure your business can financially survive an event that might temporarily halt operations.
  • Review Coverage Clauses: Ensure your policy covers all essential expenses, including those for additional costs needed to keep the business operational in another location or to minimize losses.
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    About MIB

    What Our Partners Say

    Over the years, MIB has consistently demonstrated professionalism, dedication, and a deep understanding of our mutual clients' needs.

    Our collaboration is built on shared values such as integrity, innovation, and a commitment to providing superior quality services. MIB is not just an insurance intermediary but also a true strategic partner, increasingly contributing to the success and development of Asirom.

    Madalin ROSU
    CEO - Asirom Vienna Insurance Group

    MIB, one of the top 10 brokers nationally, is also among the leading brokers distributing mandatory PAD policies. This not only highlights its success as a business but also under scores its significant social role in raising public awareness about the importance of financial protection for homes.

    MIB achieves these results thanks to its excellent market reputation and significant presence across all counties in the country. In 2023 and 2024, MIB increased the number of distributed PAD policies by nearly 30%, making us proud to be partners.

    Nicoleta Radu
    General Director - PAID

    Since the beginning of our collaboration in 2005, Generali Romania has enjoyed a trusted partnership with Millenium Insurance Broker.

    We continue to develop this partnership daily, providing smart solutions and services that respect our clients' time and meet their financial protection needs.

    Adrian Marin
    CEO - Generali

    OMNIASIG Vienna Insurance Group has a solid, long-standing collaboration with Millenium Insurance Broker. We have always found in them a reliable partner and a team of professionals we can count on.

    Together, we work towards the development of the insurance market in Romania, delivering quality products and services to clients promptly.

    Mihai Tecau
    Chairman of the Board - OMNIASIG Vienna Insurance Group

    A successful and lasting partnership, such as the one we have with the Millenium Insurance Broker team, is built on shared values and the desire to provide our clients with the best products and services.

    Congratulations on all that you do every day for your clients, and continued success.

    Calin Matei
    CEO - Groupama

    Insurance is about doing good—good in people’s lives, businesses, and communities. We are proud to have reliable distribution partners like Millenium Insurance Broker by our side.

    We share the same dedication to service excellence and have a common mission: to build a future with fewer worries and greater prosperity in Romania. Thank you for the solid partnership and for contributing to making things better.

    Virgil Șoncutean
    CEO - Allianz-Țiriac Asigurări

    Millenium Insurance Broker is a trusted and valuable partner for Romanian Airport Services. 

    For over 10 years, they have represented us with professionalism and dedication, consistently finding comprehensive insurance solutions, both nationally and internationally.

    Thanks to their efforts, our insurance protection needs have always been optimally covered.

    With appreciation and gratitude,

    Alexandra Huzuneanu
    CEO - Romanian Airport Services

    MIB is a trusted partner for the Autonom Group.

    I appreciate Ștefan and his team's professionalism, promptness, and swift support.

    Marius Stefan
    CEO - Autonom

    Millenium Insurance Broker has been our insurance service provider since 2019, right from the early days of Bright Communication. Thanks to their team of professionals and their client-focused approach, addressing the increasingly complex business needs of our industry, the relationship between our entities has evolved.  

    Today, MIB is one of our main partners. And not just any partner, but the one that protects us from risks.

    Jeni Grigorescu
    General Director - Bright Communication

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