Explains the main features of a loss of profits policy of insurance, dealing in particular with practical applications when a claim under the policy is being considered.
Chapters include: Introduction to final accounts; Policy definitions; Policy cover – gross profit, indemnity period, turnover, adjustments clause; Policy cover – increase in cost of working, admissible additional expenditure; and Savings in charges and expenses.

Author(s): Walmsley, R. M.
Published: 1994
Binding: Paperback
ISBN 10: 189819503X ISBN 13: 9781898195030

Chapter 1. Introductin to final accounts; variable and fixed costs

Chapter 2. The insured; the business; the premises

Chapter 3. Gross profit; indemnity period; turnover; adjustments clause

Chapter 4. Rate of Gross Profit - speciment accounts and calculations

Chapter 5. Increase in cost of working; admissible additional expenditure

Chapter 6. Increase in cost of working (continued); savings in charges and expenses

Chapter 7. The sum insured - establishing the sum insured and checking adequacy

Chapter 8. Dual basis wages; cover and specimen loss calculation

Chapter 9. Salvage sales, accumulated stocks, etc

Conclusion

Appendix A Specimen policies and clauses

Appendix B List of cases

Appendix C Precis of cases

Appendix D Speciment accounts and chart

Index