Loss of Profit
This cover operates in conjunction with Fire policy or an All Risks policy to cover Loss of Profit as a result of interruption in the Insured's business caused by a peril insured under Fire & Allied Perils policy or a similar type of policy.
While the previously mentioned policy’s cover losses in respect of physical assets, as a consequence of this loss, a business may suffer from reduction in turnover and the subsequent loss of profits due to the interruption of their operation. A Loss of Profit Insurance provides the solution to mitigate the losses.
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