This coverage is provided by a separate clause to the combined insurance “Property” /Material losses/. Provides cover against loss of gross profit (net profit + common fixed costs ) as a result of business interruption event that may occur separately or in parallel:
- to decrease in turnover ;
- in terms of additional costs incurred in connection with the emergency measures taken after the event to keep the turnover or maintenance to another level.
Client can choose and negotiate the liability period, respectively, for a period of:
- 6 months.
- 12 months
- 18 months
- 24 months
- other negotiable
Negotiable are also deductibles of the insured in the amount of the loss which can be determined as a percentage, as an absolute amount or number of days in which the insurer is not liable for compensation. Insurance sum is specified depending on the financial performance of your company and should reflect Expected gross profit for the agreed period of compensation that is at risk in case of an insurance event .