Collect business interruption as a 12-month base value

Many companies know their business interruption as a yearly figure: what twelve months of lost gross profit are worth. The figure the insurer needs depends on the indemnity period, so a site with a 24-month BI period should declare twice that. Until now, someone had to do that sum for every site. 21RISK now does it for you.

One setting on Business Interruption

Under Insurance > Settings, click Business Interruption and choose A 12-month base value under Sites enter. Sites keep entering Business Interruption as before, now as twelve months' worth, and Total BI and TIV count it scaled by the site's BI period. 24 months counts double, 6 months counts half, and a site without a BI period counts it as entered.

Sites read matching instructions under the field: unless you wrote your own description, the default text switches to ask for twelve months' worth. The setting belongs to the period and carries into the next one. Because it moves the TIV of every site at once, the dialog warns you before you save, and the activity log records the change.

The sum, right where it is entered

The values form works the figure out under the amount: 200,000 covers 12 months. With a BI period of 24 months, it contributes 200,000 × 24/12 = 400,000 to total business interruption. It updates the moment the BI period changes, before anything is saved.

Both figures, everywhere

Values table: Business Interruption as entered, and a Scaled Business Interruption column next to it, each with its change from last period. The scaled column only appears in periods that use a base value.
Totals that agree: Total BI and TIV include the scaled figure on every page, in the period comparison and in Power BI.
Easy to explain: a site that moves from 12 to 24 months shows an unchanged Business Interruption and a doubled scaled figure, so the jump in its TIV comes with its reason.