Insurance cover is provided under a separate clause within the Combined Property Insurance policy.
BULSTRAD VIENNA INSURANCE GROUP provides insurance coverage against loss of gross profit (net profit plus standing charges) resulting from interruption of business caused by an insured event, which may appear separately or simultaneously:
- in respect of reduction of turnover;
- in respect of additional expenditure necessarily and reasonably incurred for the sole purpose of avoiding and diminishing the reduction in turnover.
The period of indemnity is optional and can be respectively:
- 6 months.
- 12 months
- 18 months
- up to 24 months
- other, upon agreement
We give the insured the option to agree deductible from the loss amount which may be percentage, absolute amount or number of days during which Bulstrad Vienna Insurance Group is not liable to pay indemnity.
The sum insured depends on the financial results of the company and shall reflect the estimated gross profit at risk in the course of the indemnity period.