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Consequential Loss (fire) Insurance
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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.
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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
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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.
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Extensions |
- Suppliers Premises
- Customers Premises
- Failure of Public utility of power/gas/water supply
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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
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