Business Interruption
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The Business Interruption Takaful Contract covers a Participant in the event of loss of profits to a business due to an interruption in the business activities consequent upon a peril covered under the material damage contract.
Cover:
- Loss of gross profit or revenue due to a reduction in turnover or output
- Increase in the cost of working - the additional expenditure incurred for the purpose of avoiding or diminishing the reduction in turnover or output
What is not covered under this contract:
- Willful act or gross negligence of the Participant
- Loss of business due to suspension, lapse or cancellation of license, lease, order etc.
- Participant not having sufficient capital in disposal to repair or replace the property lost or damaged
