Fire Loss Of Profit
"Secure Your Business Continuity with Fire Loss of Profit Insurance"
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- Sample Headings
About FLOP – Fire Loss Of Profit
- What is FLOP? (Click on Every points should be get breif explanation as below mentioned Contents)
- Basic Coverages.
- Add On Coverages.
- Claim Process Support.
- Free Consultation for the PLI Product.
What is FLOP?
Fire Loss of Profit (FLOP) is a specialized form of business interruption insurance that protects businesses against financial loss in the event of a fire or similar peril that disrupts their operations. It covers the loss of gross profit due to fire and allied perils damaging insured property. Also known as Business Interruption Insurance, it covers the loss of gross profit on account of reduction in turnover due to business interruption caused by the destruction of insured property in a fire.
Basic Coverages
- Net profit loss resulting from business cessation.
- Standing charges that persist despite the business stoppage.
- Additional expenses incurred to sustain normal business operations during the disruption.
- Lost revenue, fixed expenses, and additional costs necessary for resuming business operations.
- Indemnity period varies from 6 months to 3 years.
Add On Coverages
- Net profit loss resulting from the cessation of business due to an insured peril.
- Standing charges that persist despite the business stoppage.
- Additional expenses incurred by the insured to sustain normal business operations during the period of business disruption.
- Extensions such as damage to a customer’s premises, accidental failure of public utilities, or damage to a supplier’s premises.