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LOSS OF PROFIT

 

OBJECTIVE

 

The loss of Gross Profit resulting from interruption of the insured Business in consequence of material damage to property used by the insured at the Premises for the purpose of the Business caused by the operation of an insured peril.

 

Policy covers:

 

Loss of Net Profit due to the partial or total stoppage of the business in consequence of FIRE, LIGHTNING, or the EXPLOSION OF GAS used for lighting and heating the premises or of BOILERS OR ECONOMIZERS on the premises.

 

Payment of Overheads such as rent, rates and taxes, interest on debentures, mortgages and loans, insurance premiums, advertising, salaries and wages to employees, travelling expenses and like charges which will continue to be payable during interruption of business.

 

Increase in Cost of Working Expenses necessarily incurred to overcome or to minimize he effects of the fire, such as rent of temporary premises, hire of machinery or extra labour costs etc.

 

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