Loss of Profit Following FireYour loss of profit following fire insurance policy is essential to your business as it makes funds available for the continuity of your business after loss by fire. This policy enables you to continue meeting the essential costs during the period for restoration of your property following fire. You have certain costs that do not reduce in the same proportion as the damage caused by the fire. Insurers call these costs standing charges. Examples of these are your expected profit and salaries of your key employees that you need to retain. It is important for you to ensure that your business meets your expected profit and retains key staff. This policy covers these important items. There are also other "loss of profit" policies such as following machinery breakdown. In some cases insurers are not able to base this policy on gross profit. Hence, in such instances, insurers issue these policies on loss of revenue basis. Now, it is your turn. Please help us to further improve our services either with your needs, questions, comments or feedback. We greatly value your voice and listen to you with a passion. And, all your insurance needs are extremely important to us.
|
