The Policy broadly covers loss of Gross Profit on account of interruption of business, consequent upon Material Damage to property due to Fire or any other insured peril under the Standard Fire and Special Perils Policy.

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It also covers standing charges which continue to be incurred during the period of interruption and the increase in cost of working necessarily and reasonably incurred to maintain the business as far as possible at its normal level, so that loss under net profit and standing charges is avoided or at least minimized.

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Exclusions

The Policy does not cover:

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• Loss of gross profits, which is not consequent upon property damage due to an insured peril

• Loss due to material damage to property, difference between value of stock at the time of fire and the value at the time of subsequent replacement, deterioration of undamaged stock after fire

• Cost of preparing fire and loss of profits claim