Policy Summary
This policy compensates the client for loss of gross profits and/or increased cost of working due to continuing interruption to business caused by a breakdown of the insured machinery. The interruption usually comes in the form of time spent in arranging repairs, awaiting delivery of repair or replacement parts (sometimes from overseas), starting up the plant and re-activating the business.
With increasingly sophisticated machinery and longer delivery periods from manufacturers, any such interruption is a cause of great concern to the business owners especially when the cash flow dries up, standing charges are not met, wages and creditors remain to be paid and shareholders looking for profit; a situation which this Consequential Loss policy is designed to remedy.
Client profile
This policy is ideal for owners of industries, printing press, Bakeries, Vehicle assembly plants/ motor dealers, owners of buildings that have lifts/elevators, Hospitals, cold storage operators, generator owners etc.
