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NEW BUSINESS CLAUSE - BI

By Anonymous
Risks : BI For businesses which have not completed a full year working Rate of Gross Profit: Rate of Gross Profit earned on the Turnover during the period between the date of the commencement of the Business and the date of the incident Annual Turnover: The proportional equivalent, for a period of twelve months, of the Turnover released during the period between the commencement of the Business and the date of the Incident Standard Turnover: The proportional equivalent, for a period equal to the indemnity period, of the Turnover released during the period between the commencement of the Business, and the date of the incident to which such adjustments shall be made as may be necessary to provide for the trend of the Business and for variations in or other circumstances affecting the business either before or after the incident which wold have been affecting the Business had the incident not occurred, so that the figure thus adjusted shall represent as nearly as may be reasonably practicable the results which but for the incident would have been obtained during the relative period after the incident.
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