Thames Insurance Group offers insurance of Losses, caused by Business Interruption developing from: Expenses of Insured while restoring any damages caused by already insured perils. Loss of profit of the Insured as a result of business interruption commencement.
In general every major peril causing harm to the property or any operation takes at least several months and usually more to bring your business back to the full operation mode.
This process involves extra expenses: Payroll of employees and workers of Insured Payment of social insurance and payments similar to them; Rent charges, and also equipment and other property, which are rented by Insured for their activity as per the conditions of the rent agreements, or hiring agreements, etc; Taxes and duties, which are due to pay irrespective of turnover and results of working activity; Interests on the credits or other involved assets, if these assets were involved for investment in that area of insured activity, which was interrupted in a consequence of commencement of material loss; Depreciated deductions as per the norms, established for the Insured's organization; Other expenses related with item "current expenses";
Under the loss of profit we understand the revenues (on monthly basis) which could be gained by the Insured if no loss has happened to him and business is operating usual way.
