Summary |
Loss of Profits Insurance explains the main features of a loss of profits policy of insurance and deals in particular with practical applications when a claim under the policy is being considered.
Contents include: Introduction to final accounts – variable and fixed costs; Policy definitions – the insured, the business, the premises; Policy cover – gross profit, indemnity period, turnover, adjustments clause; Rate of gross profit – specimen accounts and calculations; Policy cover – increase in cost of working, admissible additional expenditure; Saving in charges and expenses; The sum insured – establishing the sum insured and checking adequacy; Dual basis wages, cover and specimen loss calculation; Salvage sales, accumulated stocks, etc.
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