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Consequential loss

$100.00

Consequential loss insurance is also know as Business Interruption Insurance. The policy can be arranged to pay for the loss of profit, standing charges, additional cost of working or charges which may be incurred to kick start the business operation after a loss (e.g from a fire). The compensation is for a limited number of months arranged and will ceased when the business in back running or the fulfillment of the indemnity period.


Features
When the fixed asset of a business is loss due to a unfortunate incident (e.g. Fire, Flood, riot), the business also loss its income stream from the business operations. Many of the fixed expenses will continue to be incurred even with the business is not running. This includes rent, wages, installments and other subscriptions. The business may also need additional money for it to arrange a alternative operation plan to overcome the disaster.
Enhance your coverage
With a disaster recovery plan, the business owner will have a clear understanding of the implications to its business. He can enhance its business interruption coverage with additional coverage to address to the different cost which he may requires after a loss.
Find a Broker
To know more on Consequential loss Insurance, please contact us at
Email : awg@awginsurance.com

SKU: PC-3 Category:

Product Description

Consequential loss insurance is also know as Business Interruption Insurance. The policy can be arranged to pay for the loss of profit, standing charges, additional cost of working or charges which may be incurred to kick start the business operation after a loss (e.g from a fire). The compensation is for a limited number of months arranged and will ceased when the business in back running or the fulfillment of the indemnity period.

AWG: Covid19 Announcement

Dear Valuable Clients and Partners, 

Following the suspension of activities at workplace premises under the elevated safe distancing measures announced by the Ministry of Health (MOH) on 3rd April 2020, we would like to announce the following changes to our work so as to continue our service to our customers. 

AWG Insurance Brokers is a key member of the financial service industry and we are exempted from the suspension. We will continue to provide services to our customers, but with the following measures and changes. 

Closure of Office to walk-in Customers. 
We will no longer allow walk-in submission of documents. The office will not be opened to the public and you will need to submit any Original Documents to our Letter Box placed at our office. If Original is not required, we will encourage sending via email. This is to reduce human contacts and reducing the risk of infection. 

Working from home
Our staff and management will be taking turns to work at home. We will have a reduced workforce during this period. Many insurance companies also have their staff working from home. You may still contact your servicer at the DID in their email. 

Premium Payment

We will not be able to receive cash payment from customer and all payment is to be made via Paynow with UEN No : 199002234G, QR Code (reflected on our debit note) and Cheques. Please indicate the policy/policies number that you pay and email to dorcaschoy@awginsurance.com for any funds transfer 

MAS has also announced recently on the availability of premium installment. We have not gotten any update from insurers as of today and will update you soonest once we have any information.  

Claims 
Claim function is probably the most important part of our existence. We continue to assist and advise you on any claims matter. For claims payment, we would advise that you opt for direct fund transfer to your designated account number if the option is available. 

We apologize if there is any inconvenience caused and wish you good health amidst this difficult time. 

Regards

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