Business Interruption insurance

What costs can be insured?

Profit (revenue) earned by the Insured for goods sold and delivered and for services rendered in course of the business
Continuing normal operating expenses defrayed by proceeds from the business carried on by the policyholder
Rental income under the leases, tenancies or other similar agreements

Normal operating expenses include:

rental of premises and equipment;
taxes and charges that remain payable regardless of the turnover and business performance results including but not limited to taxes on property, land, capital or fixed assets, registration or license fees;
interests on loans or other funds raised;
ordinary payroll expenses;
mandatory social charges due and payable to extra-budgetary funds of the Russian Federation
depreciation

If you have any questions about insurance, please contact us

Business Interruption coverage is not sold as a stand-alone policy but can be added onto property insurance policy. Since business interruption is included as part of the property insurance policy, it is only paid out if the cause of the loss is covered by the property policy.

Sum insured

Business Interruption sum insured is calculated on the basis of actual income or actual gross profit during 12 months immediately preceding the start of the period of insurance.

Amounts payable

Overall costs and loss of income during the period of restoration required to get the business back into the position it would have been in had the damage not occurred.

Updated: 05.07.2019