Fire Loss of Profits

This policy covers loss of profits of a business due to,

• Reduction in turnover/output/revenue caused by a loss or damage that is covered in the Fire Policy
• Increased cost of working following the loss plus standing charges of business
• Policy can be taken only in conjunction with a fire policy

Coverage includes:

• Loss of net trading profit
• Standing charges
• Loss in respect of wages (apart from standing charges)
• Increased cost of working

Add-On covers:

• Auditor’s fee
• Accidental failure of public electricity / gas / water supply
• Damage to customer’s & suppliers premises due to perils covered under fire policy

Exclusions:

• Price fluctuations
• Depreciation
• Cost of preparation of fire & consequential loss claims
• Litigation costs
• Third party claims
• Failure to recover book debts owing to destruction of records
• Loss of goodwill & market
• Fines & penalties payable due to delayed fulfilment or cancellation of sale/service contract.
• War & allied perils
• Nuclear power reactions & radiations