Property

denied-article-4

09 Sep: Don’t Risk Consequential “Loss of Profits” Damages: Check Your Contracts and Insurance!

“Consequential Loss: This is loss not directly caused by the insured event, but is an indirect result of the event. This is loss or damage that was not foreseen by the insurer or the policyholder at the time the policy was taken out. Consequential loss is in many instances not covered and cover is dependent on the risk that the policy covers” (South African Insurance Association definition)