8 Questions
What cost is not recoverable under the extension of consequential loss insurance?
Cost incurred in compliance with Regulations or Bye-laws before the damage
Under consequential loss insurance, what is excluded in terms of undamaged property?
Undamaged portions of property other than foundations
What type of charges are not recoverable under consequential loss insurance?
Charges related to capital appreciation or property compliance costs
Which of the following is not a recoverable cost under consequential loss insurance?
Cost to restore damaged property to new condition post-compliance with Regulations
What is specifically excluded from coverage under consequential loss insurance?
Foundations of undamaged property
Consequential loss insurance does not cover the cost incurred in complying with Regulations or Bye-laws related to:
Regulations after the extension of the insurance
What amount is not recoverable under consequential loss insurance related to capital appreciation charges?
$10,000 development charge due to property value increase
What type of damage cost cannot be claimed under consequential loss insurance?
$100,000 cost for restoring damaged property to new condition
Explore the coverage provided by a Consequential Loss (Fire) Policy, including losses such as loss of gross profit, standing charges, and increased cost of working within an indemnity period. Learn about coverage for spoilage resulting from the interruption of processes or operations caused by insured perils.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
