Consequential Loss Takaful
Consequential Loss Takaful compensates you for lost incomes if your company has to vacate the premises due to any peril covered under your re insurance policy, such as a re, lightning. Consequential Loss Insurance covers the prots you would have earned, based on your nancial records, had the disaster not occurred.
The policy also covers standing charges that continue even though business activities have come to a temporary halt. To cover for the loss of gross prot due to reduction in turnover and additional expenses incurred in minimizing the loss of turnover due to an interruption to the insured business by:
- Explosion of gas used for domestic purposes only.
- Special perils, which are similar to those, ordered under the re policy.
What are the standard exclusions?
Theft during or after occurrence of re Loss or damage caused by burning of property by order of any public authority Loss or damage caused by subterranean re Loss or damage caused by nuclear reaction and radioactivity.