• Lionel Lye

How to protect your business during a pandemic with business interruption insurance?

Updated: Oct 7, 2020

COVID-19 is getting worse in Malaysia and cases spikes very fast.

How do you protect your business?

The question is, how can we protect our business during the pandemic with insurance???

Let's say,

If your shop got damaged by COVID19 because one of the employees or employers got infected. Or, you have been prevented access to premises in excess of 72 hours after the loss.

What can happen?

Well let us look at the cost,

Cost of sanitizing = RM1,500

Cost of losing business for days/weeks = Only you know

Cost of paying wages to employees and your expenses = Only you know.

Cost of other collateral damages = Only you know.


The cost of insurance only starting from RM100++ plus other coverages (eg Burglary during MCO).

Your choice.

Introducing, the

Inconvenience Relief Benefit For Fire Insurance

The Inconvenience Relief Benefit (IRB) is a perfect choice for small and medium-sized enterprises (SMEs). With a small additional premium, IRB protects your business and gives you the peace of mind that you need. Inconvenience Relief Benefit (IRB) will cover your business when:

  • There is a loss of more than 15% of the Building Sum Insured

  • Losses that prevent access to premises in excess of 72 hours after the loss

  • There is business inconvenience due to infectious diseases, such as Covid-19 (limit up to 14 days)

Why IRB?

With Inconvenience Relief Benefit, SMEs are protected against the restriction of the use of the premise by order of relevant public authority if any of their employees are infected with the infectious disease which manifested within their premise.

It pays to benefit up to RM2,000 per day for the duration of repair work, up to a maximum of 180 days.

  • Unlike Fire Consequential Loss Insurance, documentation on company statement of account is NOT required.

  • A simple calculation on premium based on the insured selected plan.

  • Straightforward and quick claim process.

Here are the full wordings for IRB.


It is agreed and understood that otherwise subject to the terms, exclusions, provisions, and conditions contained in the Policy or endorsed thereon and subject to the Insured having paid the agreed extra premium, this insurance shall be extended to cover inconvenience relief benefit. Provided always that the inconvenience relief benefit will be payable only after the loss has been ascertained to be a valid claim under Section I (Fire Material Damage) of the Policy and the loss is

i) There is a loss of more than 15% of the Building Sum Insured under Section I (Fire Material Damage) or

ii) Insured being deprived of using the insured premises in excess of seventy‐two (72)

hours after the loss by insured perils under Section 1 ‐ Fire or

iii) Notifiable disease or illness has manifested within the Insured or Insured’s

employee(s) whilst in the Premises which directly or solely results in the restriction

of use of the Premises (whether total or partial) by order of the relevant public


The maximum Indemnity Period during which Inconvenience Relief Benefit is

payable shall not exceed 14 days for the period of insurance.

Notwithstanding the above (i) and (ii) the Company will pay the Insured with a minimum amount of RM 2,500 anyone loss and in the aggregate after the loss has been ascertained to be a valid claim under Section I (Fire Material Damage). It is further agreed and understood The Company will pay the Insured for the inconvenience relief benefit for the duration of repair work for the loss to the insured building as determined by the adjuster subject to reasonable and customary practice. The maximum amount payable under this clause shall not exceed the sum insured expressed in the Schedule. If you are interested in this plan, please contact us for further information.

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