The Cover becomes effective only and until you have suffered material damage under your Fire and Special Perils policy.
Main risks covered are;
- Loss of Gross Profit, or Gross Revenue or Gross Fees or Gross Rentals (depending upon the occupation of the insured) due to loss covered under the material damage policy
- Increased cost of working
- Claims Preparation Cost which may be optional.
Failure of Power Supply (where addition cost may be incurred to resume production by using other forms of energy). This is optional and would attract additional premium, usually 0.025% of sum insured.