FIR-009: Business Interruption (Fire) Insurance
Replaces lost income while you rebuild after a fire.
What you get
Deductible / excess
21 days excess (time deductible).
Terms, warranties and endorsements
MATERIAL DAMAGE WARRANTY: liability under this Business Interruption schedule is strictly contingent upon the existence of valid property/fire insurance covering the Insured's interest in the physical property at the premises, and liability having been admitted (or admitted with reservations) by the underlying material damage insurer. Business Interruption cover is issued only alongside a Betts fire or assets all-risks policy and cannot stand alone. BASIS OF COVER: Gross Profit (difference basis) / standing charges — salaries & wages, rent, bank interest, utilities, depreciation and professional fees. PREMIUM ADJUSTMENT CLAUSE: annual declaration of certified Gross Profit within 6 months of the financial year end.