Loss of Profit Insurance:
Your Shield Against Financial Risks
Your Shield Against Financial Risks
Secure Your Revenues:
An Overview of Loss of Profit Insurance
An Overview of Loss of Profit Insurance
Loss of Profit Insurance is a crucial measure for your business to protect against financial losses resulting from operational interruptions. Damage events such as fires or natural disasters can significantly impair operational capability, leading to revenue and profit losses.
Loss of Profit Insurance reimburses your company for the lost operational profit and ongoing fixed costs, including salaries, wages, and commissions, for a predetermined period, often up to 36 months.
The insurance coverage can be customized to protect your business against various risks such as fire, burglary, hail, storm, and more.
In cases where production comes to a halt, Loss of Profit Insurance protects against costs but does not cover the repair or replacement of damaged property. In such instances, additional Commercial Property Insurance may be advisable.
Loss of Profit Insurance ensures corporate security during turbulent times. Our expert team is available for personalized consultation, providing you with the assurance and guidance your business needs.
FAQs about
Loss of Profit Insurance
Loss of Profit Insurance
Loss of Profit Insurance offers protection against a wide array of dangers, including:
- Classic risks such as fire, water damage, storm, and hail.
- Additional risks like burglary, vandalism after a break-in, and robbery.
- Natural hazards, which include earthquakes, ground subsidence, landslides, floods, backwater, snow pressure, avalanches, and volcanic eruptions.
- Damage due to civil commotion, malicious damage, strike, lock-out, impact by vehicles, smoke, and sonic boom.
- Protection against leaks from fire-extinguishing systems and so-called unnamed risks.
Loss of Profit Insurance compensates for the lost operational profit and the ongoing fixed costs, including salaries, wages, and commissions, for a defined period, often up to 36 months.
Loss of Profit Insurance is significant for businesses in almost all sectors, whether it's in the hospitality or crafts industry. It protects against the financial risks that business interruptions can cause when ongoing expenses are covered by the revenue. The insurance can be tailored to the requirements of your business.
The premium for Loss of Profit Insurance is calculated individually for each company and varies depending on the sum insured, the liability period, and the selected dangers.