Business Interruption – Wage Roll and Gross Profit
At a glance. Employee wages represent a significant expense for most businesses, and therefore have a major bearing on gross profit sum insured calculations. There is a common misunderstanding about the role that wage
roll plays in calculating the correct sum insured...
London’s burning
The fire consumed 13,200 houses, 87 churches, St Paul’s Cathedral and most of the city’s municipal buildings in 1666. It is estimated to have destroyed the homes of 70,000 of the city’s 80,000 inhabitants. However, out of the ashes of the fire arose the first mutual fire insurer...