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Machinery Loss of Profits or Business Interruption Insurance (MLoP)

Damage to some essential machinery and equipment inevitably leads to business interruptions, the consequences of which can cause companies considerable expense due to lost production and revenue.
Even more worrisome is where the insured had taken loan from a bank to purchase such machinery for operations. Our MLoP which is an “add-on” to our Machinery Insurance policy was thus designed to minimize the Business Interruption risk for companies as it indemnifies the actual loss of gross profit sustained as a result of a business interruption caused by an accident covered under the Machinery Insurance.
Specifically, indemnity provided under this policy mainly include continuing business expenses (standing charges) including the salaries and wages paid to employees, rent etc., the gross profit, and increase in cost of working, i.e. the additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover.

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