Loss of Profits

Loss of Profits

Does your profession involve offering services or advice to others? If yes, then you might want to get professional indemnity insurance.
Though often considered a pecuniary policy, loss of money is a property policy covering physical loss or damage to cash arising from any insured peril to include fire, flood, hurricane, theft or hold up. Money is covered whilst on the insured’s premises as well in transit to and from the bank. The policy can also be extended to cover costs associated with the replacement of checks or bank notes.

Why choose Covenant Insurance Brokers?

Why do you need loss of profits insurance?

The policy operates in the event of a fire causing a loss in profit of the insured and interruption to the business. This policy covers the balance sheet from becoming adverse from the interruption to business.

Possible losses include loss to gross and net profit and to standing charges.

Exclusions include:

  • Political risk
  • Natural Disasters
  • A loss that is not admissible under fire policy

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