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Machinery loss of profits - following machinery breakdown (MLOP) insurance

What is machinery loss of profits insurance?

This insurance provides cover for the actual loss of profits sustained as a result of a business interruption caused by an accident indemnifiable under machinery breakdown.

Ideally a loss due to an interruption of business would be made up of the following:-

  • The reduction in turnover resulting from decreased production or other impairment of business operations caused by an accident.
  • The increase in cost of working.

What does machinery loss of profits insurance cover?

Gross profit obtained from the turnover of goods produced or handled in the course of your business for a period of 12 consecutive calendar months.

Indemnity period: this would represent the maximum time for which we would be liable for loss of profits and commences when loss of profit begin and can be fixed at 3,6,9 or 12 months

The indicative premium:

While providing you a quote the minimum rate is 0.75%