With the number of major reported disasters annually increasing by 50 percent in recent years, it’s important for business…
Business interruption insurance makes business owners whole for lost profits and reconstruction costs after a disaster
With the number of major reported disasters annually increasing by 50 percent in recent years, it’s important for business owners to protect themselves. Business interruption insurance makes business owners whole for lost profits and reconstruction costs after a disaster, but a majority do not have this insurance, which can have premiums ranging from $750 to $10,000. When purchasing a policy, you need to provide documented proof of your business income. If your business is growing quickly, have enough support data to show the growth trend to ensure that you are adequately compensated. Also keep in mind that coverage includes per disaster limits and only covers the types of disasters you insure.
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About Mike Periu
Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.
Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.
Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.
Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.
