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Business Interruption Insurance
A fire or an insured peril might do very little material damage to the buildings or the contents, yet the interruption of business might be very serious.
Consequential Loss Policy indemnifies the insured for Loss of Net Profit, Standing Charges and increase in Cost of Working Expenses resulting from an accident indemnifiable under the underlying Fire & Allied Perils or Property All Risks Insurance Policy.
It is important to select the Indemnity Period (for a period of 3 / 6 / 12 months or more) during which the business can be restored to its pre-loss position following a loss.
For Business Interruption cover to operate, it is compulsory that there be in place a Property All Risks or Fire Insurance Policy.