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Machinery Protection Insurance (Loss of profit)
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This insurance policy provides cover for loss of gross profit, wages and spoilage (if cover is extended to include the cost of replacing and/or recovering material spoiled in the course of processing and/or cost incurred in cleaning the affected machinery) if at any time during the period of insurance specified in the insurance schedule, the business carried on by the insured at the premises specified in the insurance schedule is interrupted or interfered with as a consequence of an accident to any insured machinery.


An accident shall mean sudden, unforeseen, physical loss or damage to machinery specified in the insurance schedule of machinery whilst it is at work or at rest, or dismantled for the purpose of cleaning, overhauling or of being shifted within the premises, or in the course of subsequent re-erection on the premises specified in the insurance schedule.

For the loss to be admissible, it has to be resultant from the perils covered under the machinery breakdown insurance policy.


Invariably, the machinery breakdown loss of profit insurance cover can be provided when there is in existence a Machinery Breakdown insurance cover for the same machinery to be insured under machinery breakdown loss of profit cover.

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Authorised and regulated by the National Insurance Commission. RIC No - 018