| Products |
| |
Home
Products
Consequential Loss Policy
|
|
| Consequential Loss Policy |
 |
| Introduction |
| The Consequential Loss (fire)
policy covers Loss of Gross Profit and/or increase in
cost of working due to reduction in turnover/output due
to operation of peril covered in the Standard Fire &
Special Perils Policy. |
| This policy offers a solution
by covering profit lost due to reduction in turnover arising
from interruption of business following damage to the
property insured. |
| This policy can be taken only
in conjunction with Fire Policy or Machinery Breakdown
policy. |
| This policy is also known as
Business Interruption Policy or Loss of Profit Policy. |
| Scope of Cover |
| The policy
covers: |
|
Loss of Gross Profit |
|
Increase Cost of Working |
|
| Coverage Includes |
|
Loss of Net Trading Profit
|
|
Standing Charges |
|
Loss in Respect of Wages other than
those covered by the Standing Charges |
|
Increased Cost of Working |
|
Auditor's Fees |
|
| Extensions |
|
Suppliers Premises |
|
Customers Premises |
|
| Failure of Public utility
of power/gas/water supply. |
Premium Calculation