Which Part Of A Property Policy Is In The Insuring Agreement

For example, you`ve designed a new type of foldable beach chair and you have plenty of orders to ship it in time for the summer sales season. Their chairs are manufactured in the Contract Furniture Factory (SBB). Due to fire damage, SBB is not able to manufacture your chairs. If neither you nor SBB have a backup manufacturer that can fulfill the contract, you will lose revenue from orders that you cannot ship. Your insurer will cover the net loss of income you suffer as a result. However, if the damage to FCF is due to an earthquake and you do not have earthquake insurance, this coverage does not apply because the damage to the dependent property is not due to a covered cause of damage. . . .

Publié dans Non classé