XCELERATE BUSINESS INTERRUPTION CALCULATOR
  DISCLAIMER & TERMS OF USE  
  The Xcelerate Business Interruption Sum Insured Calculator is designed as a guide only for users to determine the appropriate level of cover for insurance purposes. Information entered into the calculator is provided by the user and Xcelerate has no knowledge or input into the accuracy or timeliness of the data provided.  
   
   
   
  The Site cannot and does contain professional advice. The professional information is provided for general informationand educational purposes only, and is not a substitute for professional advice.
 
       
  Accordingly, before taking any actions based upon such information, we encourage you to consult with Xcelerate and an appropriate professional. The use or reliance of any information contained on this site is for guidance pruposes only and under no circumstamnces will Xcelerate and its officers have any liability to you for any loss or damage, of any kind, incurred as a result of the use of this calculator. Your use of the calculator and your reliance on the calculator is solely at your own risk.
 
 
 
       
  Please contact Xcelerate at assessing@xir.com.au if you wish to engage our professional services to assess your clients business interruption risk and calculate the appropriate sum insured to mitigate that risk.
 
 
       
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  Client Name:  
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  (*) Compulsory fields must be completed prior to use of the calculator.  
       
   
 
                 
  BUSINESS INTERRUPTION CALCULATOR          
  GROSS INCOME + BASIC PAYROLL          
   DATA ENTRY - ACTUAL FINANCIAL DATA                   
                     
  Date Policy Start (dd/mm/yyyy)
               
  Date of Profit & Loss Reviewed (dd/mm/yyyy)
    POLICY NO (or Quote)
                     
  Sales (+)       TERM OF INSURANCE months  
less Discounts (-)
Max 60 months (5 years)
                     
  Total Sales         What is the forecast rate of growth in TURNOVER from date of last financials to the start date of the policy cover?
               
  Cost of Goods Sold (COGS)                  
              What is the forecast annual rate of growth in TURNOVER in the first year of insurance cover?
Opening Stock (+)
  Purchases (+)              
  Closing Stock (-)       If cover is extending beyond 12 months what is the forecast annual rate of growth in TURNOVER of subsequent years?
  COGS                
                     
  Gross Profit (Income)         Total Forecast Results - Period of Insurance    
  Calculated Rate of Gross Profit Enter the Calculated rate of gross profit if no change.            
  Please enter a Rate of Gross Profit     Turnover    
          Gross Income    
      Enter percentages as whole numbers i.e. for 50% enter as 50            
                 
  Confirm No Wages included in purchases
               
   PAYROLL USE THIS SECTION IF YOU WANT INCLUDE WAGES AS UNINSURED EXPENSES   Do you want to separately insure payroll? 
                     
  Annual Payroll Total (*)              Insured Payroll Uninsured Payroll            
  Wages/Salaries (*)     What is the forecast rate of growth in PAYROLL from date of last financials to the start date of the policy cover?
  WorkCover/Insurance      
  Payroll Tax            
  Superannuation/Pensions     What is the forecast annual rate of growth in PAYROLL in the year of insurance cover?
  Other Benefits Taxes (usually insured)      
Other
              If cover is extending beyond 12 months what is the forecast annual rate of growth in PAYROLL of subsequent years?
  Total Wages      
Rate of Payroll
  Rate of Oncost              
                     
              Forecast Results - Period of Insurance    
  Initial Cover Required at 100% (weeks)                
              Total Payroll + Oncosts    
  Lead In Payroll Required (weeks)                
Insured Payroll + Oncosts
  Estimated Payroll in lieu of termination         Initial 100% cover    
Lead In Cover
(*) includes all wages, salaries, allowances, bonuses, overtime, annual  leave, long service leave and sick leave
Termination Payments
                     
   OTHER UNINSURED WORKING EXPENSES           Do you want to nominate expenses not to be insured? 
                     
Suggested Expenses - names can be edited
  Total Other Uninsured Expenses         Total Other Uninsured Expenses    
   SUMMARY   
              Gross Income Sum Insured      
General Notes
Gross Profit
Ask insured to provide annual payroll report and highlight employees that are critical staff to be retained (even if casual)
less Uninsured Expenses
less Total Payroll
  Initial payroll period is the period before you would retrench non-critical staff            
  Lead In period - this is the time it will take to re-hire and re-train staff     Gross Income Sum Insured    
We do not recommend nominating uninsured working expenses
  Does closing stock or work in progress include wages and other overheads - remove it     Payroll Cover Sum Insured      
Enter percentages as whole numbers i.e. for 50% enter as 50
Initial payroll cover
Insured Payroll
              Lead In Payroll    
Termination Cover
                     
              Total Payroll Sum Insured    
                     
              Combined Sum Insured    
  © 2018 Xcelerate Pty Ltd - All Rights Reserved       Term of Cover    
 
                   
  BUSINESS INTERRUPTION CALCULATOR                  
  ADDITIONAL INCREASED COST OF WORKING (AICOW)                
   Item   Amount   Guidance                 
  Payroll Considerations                 Select *  
Payroll Termination Costs Early termination of staff
Yes
Payroll Re-hire expenses Recruitment costs
No
Staff overtime (fulfil orders) Overtime to fulfil orders 
Additional staff cost required Cost of additional staff to fulfil orders
1
  Equipment Considerations                    
Imported Equipment (Yes/No)
Are core equipment items sourced from overseas
Exchange Rate Risk Factor in additional costs due to adverse exchange rates
Fast Track Shipping Additional costs to fast track equipment freight
Equipment Rental Cost to hire in replacement equipment
  Operational Costs                    
Rental Shortfall Rent income not received during disruption
Security Additional security costs during disruption
Temporary Rental Premises Additional costs of rent if owned premises damaged
Equipment hire (e.g.generator hire) Hire of equipment to maintain operations
Sub-contracting work Loss of margin due to sub-contracting work (have you organised a 'disaster buddy')
  Multiple Site                     
Additional Freight to customer Additional freight costs from alternative location
Additional freight to other sites Additional freight costs to move stock to and from alternative locations
Additional Freight to receive raw materials Freight costs from alternative location
Additional wages in production Additional costs to produce at new location
Production savings (less) Cost savings at alternative location (increased volumes)
  Sales Costs                    
Restart marketing & advertising Costs of advertising when re-opening (5% of annual turnover)
Re-opening specials Giveaways, prizes or free stock/samples
Social Media Facebook, Google, Other social media
  Other (Add other items linked to increased operational expenses)                
  Total AICOW                  
General Notes
A general guide is to set AICOW cover to at least 10% of the gross income sum insured (before any adjustments i.e. payroll) however we recommend that all businesses start with at least $100,000 in AICOW cover
Generally AICOW is not impacted by under insurance clauses (please check the PDS)
© 2018 Xcelerate Pty Ltd - All Rights Reserved
                   
  BUSINESS INTERRUPTION CALCULATOR              
  ADDITIONAL COVER                  
  Item Amount Notes              
   Additional Cover Required   Amount   Guidance            Select *  
Prevention of Access Prevention of access to suppliers and customers to your business
Yes
Public Utility Failure Failure if power or gas provider or similar
No
Transport Infrastructure Damage Damage to roads, rail or bridges that restrict access to property
Transit Damage to your property or property under your control due to transit
1
Computer Installations Deemed to be covered under policy but check any sum insured restrictions
Loss of Attraction Deemed to be covered under policy but check any sum insured restrictions and terms
Documents Temporarily Removed Cost of documents (yours or others) held in storage or in transit
Re-Writing of Records Cost to reinstate electronic data or records lost required for business
Penalties for Contract Non-Completion Fines and penalties incurred due to non-completion of contracts due to disruption
Loss of Government Incentives Government benefits lost (e.g. Export grants) if more than X% of annual gross income
Outstanding Accounts Receivable Inability to collect monies due to loss of records caused by allowable loss
Claim Preparation Cost for external assistance to prepare a claim for lodgement
Rental Loss of Rent or Defaults Do you lease all or part of your premises and exposed to rental default
  Other                  
                     
  Totral Other Cover                
                     
GENERAL NOTES
Most policies carry an exclusion for the first 2 days of disruption or the disruption must exceed 2 days to claim
Policies may by default cover the above items but will be limited to a percentage of the sum insured for loss of gross income
If your business is heavily reliant on the item slisted above we recommend nominating an amount greater than 20% of the sum insured. For example some roads post disaster have not been repaired and alternative routes have added hours and increased freight costs
© 2018 Xcelerate Pty Ltd - All Rights Reserved
 
   
  BUSINESS INTERRUPTION CALCULATOR  
   SUM INSURED SUMMARY     
       
  Term of Cover  
       
  Gross Income Sum Insured    
  Gross Profit  
  less Uninsured Expenses  
  less Total Payroll  
       
  Gross Income Sum Insured  
       
  Payroll Cover Sum Insured    
  Initial payroll cover  
  Insured Payroll  
  Lead In Payroll  
  Termination Cover  
       
  Total Payroll Sum Insured  
       
  Combined Sum Insured  
       
       
  Additional Increased Cost of Working  
       
  Additional Benefits