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Fire Loss Of Profit Insurance

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Consequential Loss (fire) Insurance

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.

  • 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
  • General Exclusions
    • War, invasion, Act of foreign enemy, Hostilities or Warlike Operations (whether war be declared or not), Civil War
    • Mutiny, Civil Commotion assuming the proportion of or amounting to a popular rising, military rising, insurrection, rebellion, revolution, & military usurped power.
    • Nuclear power reactions and Radiations.
  • Extensions
    • The policy does not cover any loss if:
      • Suppliers Premises
      • Customers Premises
      • Failure of Public utility of power/gas/water supply
  • Rates
    • Rating depends on:
      • Average rate of contents of the process blocks under MD Policy
      • Type of process whether continuous or Batch type
      • Indemnity Period