Dealing with risks beyond your control


We are still going through the effects of the recent storms on the east coast of Australia that happened recently. Quite a few systems not protected by Uninterruptible power supply(UPS) were severely affected. Interestingly no one with a UPS got any damage. If you do not have one, please consider getting a UPS.

However, one point that caused some shock to us is that some commercial insurance policies do not protect the damaged equipment here. What you need to check is what happens if you get such equipment failure due to risks beyond your control eg weather.   

Some points to consider: 

- Costs of equipment failure, including repairing and/or replacing items and cost relating to repairs, e.g. transport costs.

- Temporary equipment rental costs to ensure that your business can maintain normal operations 

- Other fees related to this loss

- Business interruption, if you cannot invoice, how can you pay bills. 

Please check this.

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