Loss of Profits following Machinery Breakdown Policy in Tanzania | Britam - Tanzania
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Machinery Breakdown Loss of Profit
Machinery breakdown loss of profit insurance is a policy that covers the loss of profit following machinery breakdown insurance against loss of profit or increase in cost of working resulting from an interruption or interference to the business following loss destruction or damage to any insured building or property.
What is covered?
- The continuing business expenses (standing charges)
- The net profit
- The salaries and wages paid to employees
- The increase in cost of working i.e. the additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover.