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Why we take Turnover of 12months immediately preceding before the fire accident in loss of profit policy for additional expenses
Answers (1)
We will take for calculation because the insurance company wants to know the turnover of our company before the fire accident. The indirect motive of every insurance company is to reduce the claim amount to be paid to the insured, so they will take the turnover of the last 12 months for measuring additional expenses. Hope you understood.
