Consequential Loss (Fire) Insurance

The Consequential Loss (Fire) Insurance Policy would be applicable for all risks covered under Standard Fire and Special Perils Policy. The Sum Insured is based on the gross profit of the business. Gross Profit is defined as the sum of Net Profit and insured standing charges.

generic business
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Self Service Options

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Claim

A convenient way to register your claim & track your status.

Claim:

A convenient way to register your claim & track your status.

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Service request

Make changes to your policy & update your contact details.

Service request:

Make changes to your policy & update your contact details.

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Documents

Print policy document and view renewal notice

Documents:

Print policy document and view renewal notice

Coverage

Policy broadly covers

  • Loss of Gross Profit due to Reduction in Turnover
  • Increased cost of working - The additional expenditure incurred for the purpose of avoiding or diminishing the Reduction in Turnover or Output.

Add-on Covers

On payment of additional premium, the following coverage can be selected

  • Supplier's extension
  • Customer’s extension
  • Failure of Public power supply/Gas works/water works
  • Auditor’ fees

Deductible

This Policy does not cover the deductible stated in the Schedule in respect of each and every loss under various covers. Deductible is generally defined in terms of number of days of standard gross profit.

Exclusions

Exclusions

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All exclusions applicable for Material Damage (SFSP) policy are applicable for CLOP policy also.