Operating costs insurance through Nationale-Nederlanden
Organisations without a profit motive lose no profit during a standstill, but they keep all their fixed costs. There is a separate version for that alongside the ordinary business interruption policy.
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In brief
Operating costs insurance is the counterpart of business interruption insurance for organisations that make no profit or whose income does not move with their activity: foundations, associations, practices, schools, sports clubs, religious bodies and care institutions. After covered material damage the policy pays the fixed costs that simply run on while the activity is at a standstill: rent or mortgage interest, salaries, insurance, subscriptions, lease instalments and depreciation. Finass acts as intermediary here through Nationale-Nederlanden and tests that offering against those of other companies.
The difference from ordinary business interruption insurance lies in the basis. There the sum insured is the gross profit; here it is the annual total of the continuing operating costs. At an association that collects membership fees or an institution running on grants, the income stream often continues while the costs do too. Lost profit is then an unusable measure and a gross profit policy would pay hardly anything.
The main rule of this type of cover applies here as well: there must first be material damage to the building, contents or installations, caused by a peril named on the policy. A clubhouse that burns down or a practice room that floods falls under it. A grant that falls away, a declining membership or a cancelled event without damage to property does not. For the building itself a separate buildings insurance is needed; this policy pays no rebuilding costs.
This page deals with one situation. The full overview is on Compare business interruption insurance.
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We look at the terms as well as the premium, and stay your point of contact when there is a claim.
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We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
What to look out for
Four points that are different at organisations without a profit motive from those at an ordinary business.
Only costs that genuinely run on
Costs that fall away during the standstill, such as energy use in a closed building, cleaning or purchases for the canteen, do not belong in the sum insured and are not paid. If you include them anyway, you pay premium on an amount that is struck out when a loss occurs. Draw up an explicit list of fixed and variable costs.
Volunteers and staff
Salaries of people in employment run on and belong in the sum. Volunteers cost nothing and therefore do not count, but their absence can delay the reopening. If someone is injured during voluntary work, your liability as an organisation is engaged. That belongs on public and employers' liability insurance and not here.
What is excluded
Not covered are investments and improvements you make during the repairs, fines and penalty payments, and costs arising from a a government measure without damage to property. Loss caused deliberately or through reckless conduct also remains excluded under Article 7:952 of the Dutch Civil Code.
The period has to bridge the rehousing
At an association or practice the reopening often depends on a permit, listed building status or the availability of suitable space nearby. Choose the indemnity period on the basis of that process and not on the building time alone. A period chosen wrongly cannot be repaired afterwards.
What does your premium depend on?
- Total of the continuing costs: the sum insured on this policy
- Indemnity period: matched to rebuilding and rehousing
- Nature of the organisation: practice, association, foundation or institution
- Use of the building: use for gatherings weighs more heavily than office use
- Fire and burglary prevention: detection, firefighting equipment and key management
- Waiting period: an excess in days lowers the premium
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Basic | Extended |
|---|---|---|
| A fire in the club building leaving rent and salaries running on while all activities are at a standstill | Yes | Yes |
| A burst water pipe shuts the practice room down for three weeks | No | Yes |
| A burglary in which the meter cupboard and the central heating system are destroyed and the building is unusable | No | Yes |
| The municipality withdraws the grant and the association can no longer meet its fixed costs | No | No |
| A failure in the public electricity network keeps the community centre closed for two days | No | Provided that |
| A fire in the sports hall next door makes your own canteen unreachable without anything of yours being damaged | No | Provided that |
The extended form mainly adds water, burglary and storm. Without damaged property at your own premises neither form pays out.
Frequently asked questions
This is what people ask us most.
When do I choose operating costs instead of gross profit?
When your income does not move with the activity. A foundation running on grants and donations, or a practice with a fixed budget, loses no profit margin during a standstill but keeps its costs. A trading business does lose margin and chooses gross profit. If you are in doubt, the question is simple: does the turnover fall away when the door closes, or not?
Are the costs of a temporary location covered?
Only where the policy has an additional costs section or where the expenditure demonstrably limits the loss. If you hire emergency space to keep the service running, that expenditure replaces part of the continuing costs. Agree with the loss adjuster in advance what will be paid; arguing about emergency accommodation afterwards costs time you will not have.
What happens if the sum declared is too low?
Then payment is made proportionately. If half of your actual continuing costs are stated on the policy, you receive half your loss. Review the sum at every change in staffing, lease or hire agreements. Article 7:960 of the Dutch Civil Code prevents you, on the other side, from receiving more than your actual loss.
Do I have to substantiate the claim myself?
You supply the material: annual accounts, budget, lease agreements, payroll records and how the costs developed after the date of the loss. The loss adjuster uses that to establish the size of the claim. Article 7:941 of the Dutch Civil Code requires you to notify in good time and to co-operate; withholding information can cost you the payment. So keep copies of your records off the premises.
Every situation is different. For these situations we have a separate page.
- Compare business interruption insuranceThe main page
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