Consequential loss insurance

This insurance is taken out to cover consequential business interruption loss due to material damage to the insured property caused by insured natural hazards. For the purpose of business insurance, consequential loss means:

• lost operating profit from manufacturing and business activities that would be otherwise generated during the period of interrupted operation, but no longer than for the period of liability;

• fixed costs specified in the insurance policy that the insured must still unconditionally incur in the event of operation interruption, but no longer than for the period of liability.

The insurance does not cover variable costs not incurred during the period of operation interruption, such as the costs of raw materials, materials, technology energy and purchased goods, unless these are expenses for operation maintenance etc.