Business Interruption Insurance for Fire & Special Perils

In the event any interruption to the business as result of damage to insured’s premises due to any peril insured under the Fire Material Damage policy. It is a secondary policy to the Fire and Material Damage policy and so the fire material damage claims admissibility is a condition precedent to the admissibility of Fire Business Interruption claim. This policy enables insured to recover:

• Loss of gross profit due to a reduction in turnover/output
• Increased cost of working incurred in minimising the loss of gross profit

This insurance is also known as Consequential Loss or Business Interruption Insurance.

Standard Exclusions:

• All exclusions under the Primary Fire Material damage policy
• Third party claims