Consequencial Loss
The Loss of Profit policy (also referred to as business interruption cover) offers compensation for profits lost as a result of damage to insured property following a fire. Cover will be for Gross profits lost and for wages that continue to be paid during the period when the business is interrupted.
Some amount is also payable for fees incurred on auditors to document the claim.
Cover is suitable for hotels, manufacturing concerns, schools and for other profit making bodies.
Loss of rental income, loss of revenue and increased cost of working covers following a fire also available under this heading.
