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Policy basis Documents The business Revenue data Interruption period Trading during loss Savings & AICW VAT Results BIQ review
Step 1 of 10

What is the policy basis for this BI claim?

Check the policy schedule before proceeding — the basis determines everything that follows.

Gross Revenue
The business is indemnified for its total turnover lost during the interruption period — before any costs are deducted.
Simpler calculation
Gross Profit
The business is indemnified for its gross profit lost — turnover minus variable costs that did not arise because the business was not trading.
More complex — accounts required
If you cannot confirm the policy basis from the schedule, do not proceed. An incorrect basis will produce a wrong settlement figure.
Step 2 of 10

Get these documents before you start

Choose your approach — send templates to the insured or request their own documents.

Send our templates
Download a pre-formatted pack. The insured fills in their figures and sends it back — exactly what BIQ needs in the right format.
Fastest — least back and forth
They have their own accounts
Request their existing documents. Use the visual guides to know what to look for and spot anything incomplete or wrong.
For businesses with existing accounts
Step 3 of 10

Tell us about the business

This helps BIQ sense-check your figures against sector norms and flag anything unusual.

Used to benchmark GP rates and sense-check revenue figures
From the policy schedule — settlement cannot exceed this period
Step 4 of 10

What did the business normally earn?

Enter the revenue data you have. BIQ calculates the average monthly revenue and flags trends or seasonal patterns.

Historical annual revenue
Enter annual revenue for up to 3 years. BIQ calculates the monthly average and identifies any growth trend.
Monthly revenue figures
Enter actual monthly revenue for the most recent full year of trading.
MonthRevenue (£)MonthRevenue (£)
JanuaryJuly
FebruaryAugust
MarchSeptember
AprilOctober
MayNovember
JuneDecember
Estimated monthly revenue
Only use this if no financial records are available. The assessment will be flagged as unverified.
Unverified estimate — must be supported by documentation before any settlement is agreed.
Step 5 of 10

When was the business interrupted?

Select the affected months. Click a month to expand it and enter the exact number of days BI applies — defaults to the full month.

Affected period
The BI period runs from the date of loss to the date the business could reasonably have been restored — not necessarily when repairs completed.
Total days BI
0
Months affected
0
Gross revenue loss
£0.00
Step 6 of 10

Did the business make any sales during the interruption?

Any revenue earned during the interruption period reduces the gross loss — including sales from a temporary location, online sales, or partial trading.

Step 7 of 10

Savings and increased costs

Two adjustments that affect the final settlement — one reduces it, one increases it. Both need to be evidenced.

Savings — reduced costs
What costs did the business avoid because it was not trading? Examples: wages not paid, stock not purchased, utilities not consumed.
Supported by payroll records, supplier correspondence etc
Increased costs — AICW
Extra costs incurred specifically to reduce the interruption or keep trading. Examples: temporary premises, additional staff, emergency equipment hire.
Must be evidenced — invoices, receipts, contracts
Gross revenue loss
£0.00
Less savings
−£0.00
Plus AICW
+£0.00
Running total
£0.00
Step 8 of 10

Is the business VAT registered?

VAT-registered businesses can reclaim input VAT — so the settlement should be on a net-of-VAT basis.

Pre-VAT settlement
£0.00
VAT adjustment
—
Settlement ex VAT
£0.00
BI Settlement · Step 9 of 10
BI settlement
£0.00
Gross Revenue basis
—
Full turnover loss
Gross Profit basis
—
GP rate not entered
How this figure was calculated
Documentation status
Step 10 of 10

AI Sense Check

A second opinion reviewing the settlement figure, GP rate, AICW, indemnity period, and whether anything looks unusual.

Reviewing the assessment...
🔒 Data protection: Do not enter names, addresses, policy numbers or any personal identifiable information. Claim details only.
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