Under ________ insurance, loss of profit policy is called as consequential loss policy.

Question

Question: Under ________ insurance, loss of profit policy is called as consequential loss policy.

Options:

1.  Marine
2.  Property
3.  Fire
4.  Life

Answer 1

3. Fire

Under Fire insurance, loss of profit policy is called as consequential loss policy.

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More information:

consequential loss is an indirect negative impact caused by damage to a business. It compensate the owner for the lost in business revenue.

This type of insurance is also called business income insurance.

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