COMMERCIAL

The majority of companies have cover for business interruption, loss of gross profit or additional cost of workings. The amount of cover should be based on your gross profit achieved in the preceding year of trading with an allowance made for the trend in the business. Cover can be for duration of 12 months up to 24 months from date of loss known as the indemnity period.

The Policy generally covers:

• Loss of gross profit to your business resulting from the loss.
• Any increased cost of working i.e. rent, alternative accommodation, advertising of the re-opening of the business, hire of additional equipment, emergency repairs.
• Gross Profit is generally calculated by the in-house accountant or external Auditors

Causes of damage typically allowable in an insurance Policy:
Fire; smoke; lightning; explosion; earthquake; storm; flooding; burst pipes; collision by vehicle, aircraft, animal, etc.

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