You have taken standard fire and allied perils policy, but what about losses during the period from fire till normalization of operations?? It will hardly happen that fire took place today and tomorrow you are back to normal. It will take some time to remove the debris of damaged property/material, replacement or repair of damaged property and start normal operations. During this period you incur financial losses as business operations are not back to normal. Consequential Loss (Fire) policy provides for compensation for financial loss suffered due to interruption of business operations.
This Consequential loss policy also covers standing charges which continue to be incurred during the period of interruption and the increase in cost of working necessarily and reasonably incurred to maintain the business as far as possible at its normal level, so that loss under net profit and standing charges is avoided or at least minimized.
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