machinery breakdown loss of profit insurance is engineering insurance that complements the machinery breakdown policy by providing cover for resultant loss arising from material damage claim.
It also covers the loss of profits from the damages covered under the machinery breakdown policy.
- Loss of gross profit
- The continuing business expenses (standing charges) including the salaries and wages paid to employees
- Increase in cost of working, i.e. the additional expenditure necessarily and reasonably incurred for avoiding or diminishing a reduction in turnover