Scope of Cover
All perils under the Machinery Breakdown policy can be covered under Machinery Loss of Profits Insurance Policy (MLOP). Hence,the main perils covered are electrical/mechanical breakdown, voltage surge, impact damage etc.
The amount payable as indemnity is in respect of reduction in turnover/output is the gross profits lost on account of the shortage in turnover or output during the indemnity period in consequence of the material damage under Machinery Breakdown policy.
Code: Marine 02