Financial Risks542

  • Business Interruption
    The loss of revenue that a business may incur as a consequence of material loss or damage is coverable under a Business Interruption Insurance. Although the scope of contingencies covered follows that of the material damage insurance policy, there are several extensions that may be arranged to cater for specific business interruption exposures. 

  • Increase in Cost of Working
    Compensation is provided against additional costs that the business incurs as a consequence of a material loss in an effort to minimize the ensuing potential loss of profits or revenue. This policy is generally arranged in cases where loss of profits may not necessarily directly materialize following a material loss claim, such as in the case of certain service providers.

  • Advance Profits
    This cover is designed to cater for the loss of revenue exposure that is faced by a new business in the event of the occurrence of material damage that delays its planned commencement of operations.

  • Money
    The cover provides compensation against loss of money in transit, whilst on the insured’s premises or in a bank night safe. The policy may also be extended to provide personal accident assault benefits. 

  • Fidelity
    This policy protects employers against financial loss resulting from fraud committed by their employees. Coverage may be arranged on named basis, on category basis or on open cover basis.