Business Interruption following Fire & Allied Perils

Business Interruption following Fire & Allied Perils

Summary

The loss/damages resulting from fire or other allied perils besides bringing physical loss /damage may result in loss of gross profit and incurring standing charges.
These Expenses such as bank interests, employee’s salaries, rent, electricity and other standing charges will continue to be incurred despite of the loss of revenue.
Such financial losses suffered due to loss of gross profits on account of reduction in turnover and standing charges incurred during the period of interruption due to an covered peril are compensated under this Takaful.
This PMD is intended to cover loss of Gross Profit following material damage as a result of fire, lightning, Storm, hurricane, earthquake, volcanic eruption, flood, impact damage, etc (or other covered peril) at your premises.
Business Interruption Takaful covers loss of profits of a business due to reduction in the turnover caused by a loss or damage that is covered in the Fire & Allied Perils PMD. The Takaful includes cover for Increased cost of working following the loss as well as the standing charges of the business that continue even though business activities have come to a temporary halt.