Machinery Loss of Profits Insurance (MLOP)

This insurance is required to cover loss of income due to Machinery breakdown of critical equipment causing prolonged periods of interruption. The MLOP Insurance is issued in conjunction with Machinery Breakdown Insurance (MBD).

Features

  • Follows the fortunes of the MBD Policy.
  • Gross profit (net profit plus standing charges) is the sum insured.
  • Premium varies with Annual Gross Profit, Time required for repair replacement, Spare Part availability and criticality of the equipment.

Claim Process

1

Notify your insurance company

2

Document the machinery breakdown

3

Gather supporting documentation

4

Engage with the insurance adjuster

5

Document ongoing losses

6

Calculation of loss of profit

7

Negotiation and settlement

8

Claim payment

9

Thank You

Note: The claims process can vary depending on the specific circumstances and the policies.

Meet The Team

Our team works with a unified vision of delivering best-in-class services in relation to broking, client servicing, underwriting, risk management & more.

  • Vivek Tripathi

    Senior Executive

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