Business Interruption Insurance

Consequential Loss (Fire or Machinery Breakdown) Insurance offers you a failsafe solution by protecting you against revenue loss due to reduction in turnover as a direct result of business interruption in the event of damage to the insured property. This policy can be taken only in conjunction with a Standard Fire and Special Perils Policy & Machinery Breakdown Policy. This policy is also known as Business Interruption Policy or Loss of Profit Policy.

The most significant benefit of this policy is that it protects your Balance Sheet from adverse consequences arising out of an interruption to your business from a peril covered under your Fire / Machinery Breakdown (Material Damage) Policy.

Consequential Loss may arise due to:

Loss of gross profit due to reduction in turnover/output.
Increase in cost of working - This is the additional expenditure that has to be incurred in order to avoid or diminish the reduction in turnover following a loss payable under the Fire / Machinery Breakdown (Material Damage) Policy.
- Gross profit – It is the sum of net profit & standing charges.
- Net profit – It is the net trading profit excluding capital receipts, accretions and outlay chargeable to capital after making provisions for all standing charges.
- Standing charges – It means all expenses which do not reduce proportionately with a reduction in turnover.

Unison has a specialised team that caters to our esteemed clientele’s particular needs. We pride in placing many such polices for our Corporate Clients with the widest coverage priced at optimal cost.

Key Features:

To make good the loss of profit that results from stoppage of business due to loss under the material damage policy
Covers standing charges in spite of stoppage of business
Covers additional expenses incurred to avoid or diminish the reduction in turnover following a loss

Commercial Insurance

Property Insurance

Marine Insurance

Energy Package Insurance

Construction Insurance

Aviation Insurance

Overview

Liability Insurance

Trade Credit Insurance

Overview

Miscellaneous Insurance