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This policy can be taken only if a Standard fire and Special Perils Policy exists for the risk.
PRE-REQUISITE FOR THE POLICY
This policy can be taken only if a Standard fire and Special Perils Policy exists for the risk.
WHAT CAN BE INSURED
Net profit due to the stoppage of business as a result of an insured peril
Standing charges which continue to accrue in spite of stoppage of business
Additional expenditure incurred by the insured to maintain normal business activity during the period in which the normal business is affected.
INDEMNITY PERIOD
The indemnity period commences with the date of damage and lasts till such a time as the business is restored to its pre damaged level or the period stipulated policy which ever comes first. The policy insures earnings of the business lost during the indemnity period.
