Property Building Insurance, Strata Title Property Insurance, Malaysia Strata Title Building Insurance, Malaysia Strata Title Fire Insurance, Malaysia Strata Title JMB Liability Insurance

jmbinsurance-malaysiajmbinsuranceorganisation

Property Building Insurance, Strata Title Property Insurance,
Malaysia Strata Title Building Insurance, Malaysia Strata Title Fire Insurance, Malaysia Strata Title JMB Liability Insurance
Hotline +603-92863323, +6011-12239838 Whatsapp

Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Largest Strata Title and JMB Insurance Risk Management Advisory Organization
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumour, Malaysia.
(O) +603-9286 3323
(E) jmbimcare@jmbinsurance.com.my
(W) www.jmbinsurance.com.my
(FB) www.facebook.com/jmbinsurance

Exclusively Designed for JMB’s or MC only
(Joint Management Body or Management Corporation),
Strata Title Property Insurance and Property Management Liability Insurance

Arranged by
Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Largest Strata Title Insurance and JMB Liability Insurance Risk Management Advisory Organization

Strata Title Property Insurance and Property Management Liability Insurance

Strata Title Risks Solution:

Products Offered:
Fire Insurance
Fire Consequential Loss Insurance
All Risk Insurance
Crime Insurance ( Burglary & Money Insurance)
Plate Glass Insurance
Machinery Breakdown Insurance
Public Liability Insurance
Property Terrorism
Error & Omission or Professional Indemnity for Joint Management Body (JMB) or Management Corporation (MC).

Malaysia JMB Insurance Organization (JMBIM)
Your Trusted Malaysia Largest Strata Title and JMB Insurance Risk Management Advisory Organization
Head Office
158-3-7, Blok 158, Kompleks Maluri,
Jalan Jejaka, Taman Maluri, Cheras,
55100 Kuala Lumpur, Malaysia.
(O) +603-9286 3323
(F) +603-9282 3232
(E) jmbimcare@jmbinsurance.com.my
(W) www.jmbinsurance.com.my
(FB) www.facebook.com/jmbinsurance

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Strata Title JMB Insurance Kuala Lumpur Directory

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Strata Title JMB Insurance Kuala Lumpur Directory

ACPG Management Sdn Bhd

Member of Malaysia JMB Insurance Organisation (JMBIM)

Head Office

158-3-7, Blok 158, Kompleks Maluri,

Jalan Jejaka, Taman Maluri, Cheras,

55100 Kuala Lumpur, Malaysia.

http://www.acpgconsultant.com

+603-92863323

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AIG Strata Title JMB Insurance Kuala Lumpur Malaysia

AIG Strata Title JMB Insurance Kuala Lumpur

AIG Strata Title JMB Insurance Selangor

AIG Strata Title JMB Insurance Cheras

AIG Strata Title JMB Insurance Ampang

AIG Strata Title JMB Insurance Kampung Pandan

AIG Strata Title JMB Insurance Pandan Jaya

AIG Strata Title JMB Insurance Pandan Perdana

AIG Strata Title JMB Insurance Pandan Indah

AIG Strata Title JMB Insurance Taman Cheras

AIG Strata Title JMB Insurance Taman Pertama Cheras

AIG Strata Title JMB Insurance Taman Segar Cheras

AIG Strata Title JMB Insurance Taman Midah

AIG Strata Title JMB Insurance Bandar Tun Razak

AIG Strata Title JMB Insurance Taman Billion

AIG Strata Title JMB Insurance Taman Mewah

AIG Strata Title JMB Insurance Balakong

AIG Strata Title JMB Insurance Bangsar

AIG Strata Title JMB Insurance Pantai Dalam

AIG Strata Title JMB Insurance Jalan Kelang Lama

AIG Strata Title JMB Insurance Kuchai Lama

AIG Strata Title JMB Insurance Sungai Besi

AIG Strata Title JMB Insurance Puchong

AIG Strata Title JMB Insurance Shah Alam

AIG Strata Title JMB Insurance PJ

AIG Strata Title JMB Insurance Petaling Jaya

AIG Strata Title JMB Insurance Seri Petaling

AIG Strata Title JMB Insurance Desa Petaling

AIG Strata Title JMB Insurance Subang

AIG Strata Title JMB Insurance USJ

AIG Strata Title JMB Insurance Damansara

AIG Strata Title JMB Insurance Kota Damansara

AIG Strata Title JMB Insurance Kepong

AIG Strata Title JMB Insurance Sungai Buluh

AIG Strata Title JMB Insurance Rawang

AIG Strata Title JMB Insurance Jalan Ipoh

AIG Strata Title JMB Insurance Selayang

AIG Strata Title JMB Insurance Gombak

AIG Strata Title JMB Insurance Wangsa Maju

AIG Strata Title JMB Insurance Setapak

AIG Strata Title JMB Insurance Kajang

AIG Strata Title JMB Insurance Sungai Long

AIG Strata Title JMB Insurance Mahkota Cheras

AIG Strata Title JMB Insurance Seri Kembangan

AIG Strata Title JMB Insurance Kajang

AIG Strata Title JMB Insurance KL

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AXA Strata Title JMB Insurance Kuala Lumpur Malaysia

AXA Strata Title JMB Insurance Kuala Lumpur

AXA Strata Title JMB Insurance Selangor

AXA Strata Title JMB Insurance Cheras

AXA Strata Title JMB Insurance Ampang

AXA Strata Title JMB Insurance Kampung Pandan

AXA Strata Title JMB Insurance Pandan Jaya

AXA Strata Title JMB Insurance Pandan Perdana

AXA Strata Title JMB Insurance Pandan Indah

AXA Strata Title JMB Insurance Taman Cheras

AXA Strata Title JMB Insurance Taman Pertama Cheras

AXA Strata Title JMB Insurance Taman Segar Cheras

AXA Strata Title JMB Insurance Taman Midah

AXA Strata Title JMB Insurance Bandar Tun Razak

AXA Strata Title JMB Insurance Taman Billion

AXA Strata Title JMB Insurance Taman Mewah

AXA Strata Title JMB Insurance Balakong

AXA Strata Title JMB Insurance Bangsar

AXA Strata Title JMB Insurance Pantai Dalam

AXA Strata Title JMB Insurance Jalan Kelang Lama

AXA Strata Title JMB Insurance Kuchai Lama

AXA Strata Title JMB Insurance Sungai Besi

AXA Strata Title JMB Insurance Puchong

AXA Strata Title JMB Insurance Shah Alam

AXA Strata Title JMB Insurance PJ

AXA Strata Title JMB Insurance Petaling Jaya

AXA Strata Title JMB Insurance Seri Petaling

AXA Strata Title JMB Insurance Desa Petaling

AXA Strata Title JMB Insurance Subang

AXA Strata Title JMB Insurance USJ

AXA Strata Title JMB Insurance Damansara

AXA Strata Title JMB Insurance Kota Damansara

AXA Strata Title JMB Insurance Kepong

AXA Strata Title JMB Insurance Sungai Buluh

AXA Strata Title JMB Insurance Rawang

AXA Strata Title JMB Insurance Jalan Ipoh

AXA Strata Title JMB Insurance Selayang

AXA Strata Title JMB Insurance Gombak

AXA Strata Title JMB Insurance Wangsa Maju

AXA Strata Title JMB Insurance Setapak

AXA Strata Title JMB Insurance Kajang

AXA Strata Title JMB Insurance Sungai Long

AXA Strata Title JMB Insurance Mahkota Cheras

AXA Strata Title JMB Insurance Seri Kembangan

AXA Strata Title JMB Insurance Kajang

AXA Strata Title JMB Insurance KL

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Allianz Strata Title JMB Insurance Kuala Lumpur Malaysia

Allianz Strata Title JMB Insurance Kuala Lumpur

Allianz Strata Title JMB Insurance Selangor

Allianz Strata Title JMB Insurance Cheras

Allianz Strata Title JMB Insurance Ampang

Allianz Strata Title JMB Insurance Kampung Pandan

Allianz Strata Title JMB Insurance Pandan Jaya

Allianz Strata Title JMB Insurance Pandan Perdana

Allianz Strata Title JMB Insurance Pandan Indah

Allianz Strata Title JMB Insurance Taman Cheras

Allianz Strata Title JMB Insurance Taman Pertama Cheras

Allianz Strata Title JMB Insurance Taman Segar Cheras

Allianz Strata Title JMB Insurance Taman Midah

Allianz Strata Title JMB Insurance Bandar Tun Razak

Allianz Strata Title JMB Insurance Taman Billion

Allianz Strata Title JMB Insurance Taman Mewah

Allianz Strata Title JMB Insurance Balakong

Allianz Strata Title JMB Insurance Bangsar

Allianz Strata Title JMB Insurance Pantai Dalam

Allianz Strata Title JMB Insurance Jalan Kelang Lama

Allianz Strata Title JMB Insurance Kuchai Lama

Allianz Strata Title JMB Insurance Sungai Besi

Allianz Strata Title JMB Insurance Puchong

Allianz Strata Title JMB Insurance Shah Alam

Allianz Strata Title JMB Insurance PJ

Allianz Strata Title JMB Insurance Petaling Jaya

Allianz Strata Title JMB Insurance Seri Petaling

Allianz Strata Title JMB Insurance Desa Petaling

Allianz Strata Title JMB Insurance Subang

Allianz Strata Title JMB Insurance USJ

Allianz Strata Title JMB Insurance Damansara

Allianz Strata Title JMB Insurance Kota Damansara

Allianz Strata Title JMB Insurance Kepong

Allianz Strata Title JMB Insurance Sungai Buluh

Allianz Strata Title JMB Insurance Rawang

Allianz Strata Title JMB Insurance Jalan Ipoh

Allianz Strata Title JMB Insurance Selayang

Allianz Strata Title JMB Insurance Gombak

Allianz Strata Title JMB Insurance Wangsa Maju

Allianz Strata Title JMB Insurance Setapak

Allianz Strata Title JMB Insurance Kajang

Allianz Strata Title JMB Insurance Sungai Long

Allianz Strata Title JMB Insurance Mahkota Cheras

Allianz Strata Title JMB Insurance Seri Kembangan

Allianz Strata Title JMB Insurance Kajang

Allianz Strata Title JMB Insurance KL

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MSIG Strata Title JMB Insurance Kuala Lumpur Malaysia

MSIG Strata Title JMB Insurance Kuala Lumpur

MSIG Strata Title JMB Insurance Selangor

MSIG Strata Title JMB Insurance Cheras

MSIG Strata Title JMB Insurance Ampang

MSIG Strata Title JMB Insurance Kampung Pandan

MSIG Strata Title JMB Insurance Pandan Jaya

MSIG Strata Title JMB Insurance Pandan Perdana

MSIG Strata Title JMB Insurance Pandan Indah

MSIG Strata Title JMB Insurance Taman Cheras

MSIG Strata Title JMB Insurance Taman Pertama Cheras

MSIG Strata Title JMB Insurance Taman Segar Cheras

MSIG Strata Title JMB Insurance Taman Midah

MSIG Strata Title JMB Insurance Bandar Tun Razak

MSIG Strata Title JMB Insurance Taman Billion

MSIG Strata Title JMB Insurance Taman Mewah

MSIG Strata Title JMB Insurance Balakong

MSIG Strata Title JMB Insurance Bangsar

MSIG Strata Title JMB Insurance Pantai Dalam

MSIG Strata Title JMB Insurance Jalan Kelang Lama

MSIG Strata Title JMB Insurance Kuchai Lama

MSIG Strata Title JMB Insurance Sungai Besi

MSIG Strata Title JMB Insurance Puchong

MSIG Strata Title JMB Insurance Shah Alam

MSIG Strata Title JMB Insurance PJ

MSIG Strata Title JMB Insurance Petaling Jaya

MSIG Strata Title JMB Insurance Seri Petaling

MSIG Strata Title JMB Insurance Desa Petaling

MSIG Strata Title JMB Insurance Subang

MSIG Strata Title JMB Insurance USJ

MSIG Strata Title JMB Insurance Damansara

MSIG Strata Title JMB Insurance Kota Damansara

MSIG Strata Title JMB Insurance Kepong

MSIG Strata Title JMB Insurance Sungai Buluh

MSIG Strata Title JMB Insurance Rawang

MSIG Strata Title JMB Insurance Jalan Ipoh

MSIG Strata Title JMB Insurance Selayang

MSIG Strata Title JMB Insurance Gombak

MSIG Strata Title JMB Insurance Wangsa Maju

MSIG Strata Title JMB Insurance Setapak

MSIG Strata Title JMB Insurance Kajang

MSIG Strata Title JMB Insurance Sungai Long

MSIG Strata Title JMB Insurance Mahkota Cheras

MSIG Strata Title JMB Insurance Seri Kembangan

MSIG Strata Title JMB Insurance Kajang

MSIG Strata Title JMB Insurance KL

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Lonpac Strata Title JMB Insurance Kuala Lumpur Malaysia

Lonpac Strata Title JMB Insurance Kuala Lumpur

Lonpac Strata Title JMB Insurance Selangor

Lonpac Strata Title JMB Insurance Cheras

Lonpac Strata Title JMB Insurance Ampang

Lonpac Strata Title JMB Insurance Kampung Pandan

Lonpac Strata Title JMB Insurance Pandan Jaya

Lonpac Strata Title JMB Insurance Pandan Perdana

Lonpac Strata Title JMB Insurance Pandan Indah

Lonpac Strata Title JMB Insurance Taman Cheras

Lonpac Strata Title JMB Insurance Taman Pertama Cheras

Lonpac Strata Title JMB Insurance Taman Segar Cheras

Lonpac Strata Title JMB Insurance Taman Midah

Lonpac Strata Title JMB Insurance Bandar Tun Razak

Lonpac Strata Title JMB Insurance Taman Billion

Lonpac Strata Title JMB Insurance Taman Mewah

Lonpac Strata Title JMB Insurance Balakong

Lonpac Strata Title JMB Insurance Bangsar

Lonpac Strata Title JMB Insurance Pantai Dalam

Lonpac Strata Title JMB Insurance Jalan Kelang Lama

Lonpac Strata Title JMB Insurance Kuchai Lama

Lonpac Strata Title JMB Insurance Sungai Besi

Lonpac Strata Title JMB Insurance Puchong

Lonpac Strata Title JMB Insurance Shah Alam

Lonpac Strata Title JMB Insurance PJ

Lonpac Strata Title JMB Insurance Petaling Jaya

Lonpac Strata Title JMB Insurance Seri Petaling

Lonpac Strata Title JMB Insurance Desa Petaling

Lonpac Strata Title JMB Insurance Subang

Lonpac Strata Title JMB Insurance USJ

Lonpac Strata Title JMB Insurance Damansara

Lonpac Strata Title JMB Insurance Kota Damansara

Lonpac Strata Title JMB Insurance Kepong

Lonpac Strata Title JMB Insurance Sungai Buluh

Lonpac Strata Title JMB Insurance Rawang

Lonpac Strata Title JMB Insurance Jalan Ipoh

Lonpac Strata Title JMB Insurance Selayang

Lonpac Strata Title JMB Insurance Gombak

Lonpac Strata Title JMB Insurance Wangsa Maju

Lonpac Strata Title JMB Insurance Setapak

Lonpac Strata Title JMB Insurance Kajang

Lonpac Strata Title JMB Insurance Sungai Long

Lonpac Strata Title JMB Insurance Mahkota Cheras

Lonpac Strata Title JMB Insurance Seri Kembangan

Lonpac Strata Title JMB Insurance Kajang

Lonpac Strata Title JMB Insurance KL

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Kurnia Strata Title JMB Insurance Kuala Lumpur Malaysia

Kurnia Strata Title JMB Insurance Kuala Lumpur

Kurnia Strata Title JMB Insurance Selangor

Kurnia Strata Title JMB Insurance Cheras

Kurnia Strata Title JMB Insurance Ampang

Kurnia Strata Title JMB Insurance Kampung Pandan

Kurnia Strata Title JMB Insurance Pandan Jaya

Kurnia Strata Title JMB Insurance Pandan Perdana

Kurnia Strata Title JMB Insurance Pandan Indah

Kurnia Strata Title JMB Insurance Taman Cheras

Kurnia Strata Title JMB Insurance Taman Pertama Cheras

Kurnia Strata Title JMB Insurance Taman Segar Cheras

Kurnia Strata Title JMB Insurance Taman Midah

Kurnia Strata Title JMB Insurance Bandar Tun Razak

Kurnia Strata Title JMB Insurance Taman Billion

Kurnia Strata Title JMB Insurance Taman Mewah

Kurnia Strata Title JMB Insurance Balakong

Kurnia Strata Title JMB Insurance Bangsar

Kurnia Strata Title JMB Insurance Pantai Dalam

Kurnia Strata Title JMB Insurance Jalan Kelang Lama

Kurnia Strata Title JMB Insurance Kuchai Lama

Kurnia Strata Title JMB Insurance Sungai Besi

Kurnia Strata Title JMB Insurance Puchong

Kurnia Strata Title JMB Insurance Shah Alam

Kurnia Strata Title JMB Insurance PJ

Kurnia Strata Title JMB Insurance Petaling Jaya

Kurnia Strata Title JMB Insurance Seri Petaling

Kurnia Strata Title JMB Insurance Desa Petaling

Kurnia Strata Title JMB Insurance Subang

Kurnia Strata Title JMB Insurance USJ

Kurnia Strata Title JMB Insurance Damansara

Kurnia Strata Title JMB Insurance Kota Damansara

Kurnia Strata Title JMB Insurance Kepong

Kurnia Strata Title JMB Insurance Sungai Buluh

Kurnia Strata Title JMB Insurance Rawang

Kurnia Strata Title JMB Insurance Jalan Ipoh

Kurnia Strata Title JMB Insurance Selayang

Kurnia Strata Title JMB Insurance Gombak

Kurnia Strata Title JMB Insurance Wangsa Maju

Kurnia Strata Title JMB Insurance Setapak

Kurnia Strata Title JMB Insurance Kajang

Kurnia Strata Title JMB Insurance Sungai Long

Kurnia Strata Title JMB Insurance Mahkota Cheras

Kurnia Strata Title JMB Insurance Seri Kembangan

Kurnia Strata Title JMB Insurance Kajang

Kurnia Strata Title JMB Insurance KL

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Tokio Marine Strata Title JMB Insurance Kuala Lumpur Malaysia

Tokio Marine Strata Title JMB Insurance Kuala Lumpur

Tokio Marine Strata Title JMB Insurance Selangor

Tokio Marine Strata Title JMB Insurance Cheras

Tokio Marine Strata Title JMB Insurance Ampang

Tokio Marine Strata Title JMB Insurance Kampung Pandan

Tokio Marine Strata Title JMB Insurance Pandan Jaya

Tokio Marine Strata Title JMB Insurance Pandan Perdana

Tokio Marine Strata Title JMB Insurance Pandan Indah

Tokio Marine Strata Title JMB Insurance Taman Cheras

Tokio Marine Strata Title JMB Insurance Taman Pertama Cheras

Tokio Marine Strata Title JMB Insurance Taman Segar Cheras

Tokio Marine Strata Title JMB Insurance Taman Midah

Tokio Marine Strata Title JMB Insurance Bandar Tun Razak

Tokio Marine Strata Title JMB Insurance Taman Billion

Tokio Marine Strata Title JMB Insurance Taman Mewah

Tokio Marine Strata Title JMB Insurance Balakong

Tokio Marine Strata Title JMB Insurance Bangsar

Tokio Marine Strata Title JMB Insurance Pantai Dalam

Tokio Marine Strata Title JMB Insurance Jalan Kelang Lama

Tokio Marine Strata Title JMB Insurance Kuchai Lama

Tokio Marine Strata Title JMB Insurance Sungai Besi

Tokio Marine Strata Title JMB Insurance Puchong

Tokio Marine Strata Title JMB Insurance Shah Alam

Tokio Marine Strata Title JMB Insurance PJ

Tokio Marine Strata Title JMB Insurance Petaling Jaya

Tokio Marine Strata Title JMB Insurance Seri Petaling

Tokio Marine Strata Title JMB Insurance Desa Petaling

Tokio Marine Strata Title JMB Insurance Subang

Tokio Marine Strata Title JMB Insurance USJ

Tokio Marine Strata Title JMB Insurance Damansara

Tokio Marine Strata Title JMB Insurance Kota Damansara

Tokio Marine Strata Title JMB Insurance Kepong

Tokio Marine Strata Title JMB Insurance Sungai Buluh

Tokio Marine Strata Title JMB Insurance Rawang

Tokio Marine Strata Title JMB Insurance Jalan Ipoh

Tokio Marine Strata Title JMB Insurance Selayang

Tokio Marine Strata Title JMB Insurance Gombak

Tokio Marine Strata Title JMB Insurance Wangsa Maju

Tokio Marine Strata Title JMB Insurance Setapak

Tokio Marine Strata Title JMB Insurance Kajang

Tokio Marine Strata Title JMB Insurance Sungai Long

Tokio Marine Strata Title JMB Insurance Mahkota Cheras

Tokio Marine Strata Title JMB Insurance Seri Kembangan

Tokio Marine Strata Title JMB Insurance Kajang

Tokio Marine Strata Title JMB Insurance KL

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Pacific Strata Title JMB Insurance Kuala Lumpur Malaysia

Pacific Strata Title JMBr Insurance Kuala Lumpur

Pacific Strata Title JMB Insurance Selangor

Pacific Strata Title JMB Insurance Cheras

Pacific Strata Title JMB Insurance Ampang

Pacific Strata Title JMB Insurance Kampung Pandan

Pacific Strata Title JMB Insurance Pandan Jaya

Pacific Strata Title JMB Insurance Pandan Perdana

Pacific Strata Title JMB Insurance Pandan Indah

Pacific Strata Title JMB Insurance Taman Cheras

Pacific Strata Title JMB Insurance Taman Pertama Cheras

Pacific Strata Title JMB Insurance Taman Segar Cheras

Pacific Strata Title JMB Insurance Taman Midah

Pacific Strata Title JMB Insurance Bandar Tun Razak

Pacific Strata Title JMB Insurance Taman Billion

Pacific Strata Title JMB Insurance Taman Mewah

Pacific Strata Title JMB Insurance Balakong

Pacific Strata Title JMB Insurance Bangsar

Pacific Strata Title JMB Insurance Pantai Dalam

Pacific Strata Title JMB Insurance Jalan Kelang Lama

Pacific Strata Title JMB Insurance Kuchai Lama

Pacific Strata Title JMB Insurance Sungai Besi

Pacific Strata Title JMB Insurance Puchong

Pacific Strata Title JMB Insurance Shah Alam

Pacific Strata Title JMB Insurance PJ

Pacific Strata Title JMB Insurance Petaling Jaya

Pacific Strata Title JMB Insurance Seri Petaling

Pacific Strata Title JMB Insurance Desa Petaling

Pacific Strata Title JMB Insurance Subang

Pacific Strata Title JMB Insurance USJ

Pacific Strata Title JMB Insurance Damansara

Pacific Strata Title JMB Insurance Kota Damansara

Pacific Strata Title JMB Insurance Kepong

Pacific Strata Title JMB Insurance Sungai Buluh

Pacific Strata Title JMB Insurance Rawang

Pacific Strata Title JMB Insurance Jalan Ipoh

Pacific Strata Title JMB Insurance Selayang

Pacific Strata Title JMB Insurance Gombak

Pacific Strata Title JMB Insurance Wangsa Maju

Pacific Strata Title JMB Insurance Setapak

Pacific Strata Title JMB Insurance Kajang

Pacific Strata Title JMB Insurance Sungai Long

Pacific Strata Title JMB Insurance Mahkota Cheras

Pacific Strata Title JMB Insurance Seri Kembangan

Pacific Strata Title JMB Insurance Kajang

Pacific Strata Title JMB Insurance KL

Consequential Loss Insurance Kuala Lumpur Malaysia

ACPG BZR30P38
Consequential Loss Insurance Kuala Lumpur Malaysia
Arranged By
ACPG Management Sdn Bhd
+603-92863323
Consequential Loss Insurance (Fire) or Loss of Profit Insurance or Business Interruption Insurance
As in the past in our knowledge series, we shall endeavor to present the above insurance in the simplest possible way with a view to elicit interest and also to exemplify its importance.
As in the past in our knowledge series, we shall endeavor to present the above insurance in the simplest possible way with a view to elicit interest and also to exemplify its importance.
When a fire occurs at premises used for the purpose of conducting a business, whether industrial, mercantile or Professional, the owner of the business will usually be insured against damage to his property by fire etc and will in due course be able to recover his material loss.
With the proceeds of his claim he can, in time, replace his lost or damaged property and resume his business but, until this can be done, the profits which he was previously earning will have ceased, wholly or in part.
In addition, there will almost certainly be fixed expenses arising from the business e.q. salaries, rent, municipal taxes, which be will have to continue to meet, even if his profits have entirely vanished.
Faced with the situation, he may find means to reduce or even eliminate the loss of his profits but this will call for expenditure perhaps substantial – which he may not have the funds to meet.
It is to meet this situation that loss of profits insurance have been devised and subject to a suitable type of policy and an adequate sum insured, it affords an insured complete protection against the reduction or cessation of profits following a fire and place him in the same position as though the damage had not occurred.
In these circumstances, a loss of profit insurance should appeal to any businessman as an essential complement to Fire Insurance.
We shall proceed ahead to give a brief idea of important definitions and ingredients which needs to be understood before obtaining a policy:
a) Net Profit:
The net trading profit resulting from the business of the insured at the premises. This does not include all capital receipts and accretion. Provisioning for all fixed charges shall be made including depreciation but shall not include taxation chargeable on profits.
b) Standing Charges:
These are the fixed expenses whi ch wi l l never theless continue to accrue to the insured despite the cessation of business e.q. Rent, Municipal taxes, fixed interest on capital, Advertising etc
c) Indemnity Period:
The period commences when the damage by fire occurs, and ends when the business ceases to be affected there by, subject to the maximum period specified in the policy.
d) Turnover:
The money paid or payable to the insured for goods sold & delivered and for services rendered in course of the business at the premises.
e) Rate of Gross Profit:
The Gross Profit explained above divided by turnover during the financial year immediately before the date of the damage.
f) Annual Turnover:
The turnover during the twelve months immediately before the date of the damage.
g) Standard Turn Over:
The turn over during that period in the twelve months immediately before the date of the loss which corresponds with the Indemnity period.
This st mean that if a fire occurs on 1 January and the business is affected during the following three months, January to March, then in ascertaining the shortage in turn over, the figures for those months are compared with January to March in the proceeding year. This is fairness personified especially in case of seasonal trades.
Measure of Indemnity:
With the aid of the above stated definition, it would now be possible to state in simple terms how the insured would be compensated in the event of a loss.
The amount payable shall be under two heads, which are described as below:
(I) Reduction In Turn Over:
It shall be he sum produced by applying the rate of gross profit to the amount by which the turn over during the indemnity period shall, in consequence of the damage, fall short of the Standard Turnover.
(II) Increase In Cost of waking:
It shall comprise the additional expend it urenecessarily and reasonably incurred for the sole purpose of diminishing the reduction in turnover but the amount shall not exceed the sum produced by applying the rate of gross profit to the amount of reduction there by avoided.
We shall go ahead by giving you a very simple accounting applicability of this policy and make you clearly understand how it fully compensates an insured. By this example, you will able to appreciate that all the aspects are duly taken care of by Malaysia insurers.
Consequential Loss Insurance (Fire) or Loss of Profit Insurance or Business Interruption Insurance for more detail at http://www.acpgconsultant.com.
Malaysia Insurance Services, Malaysia General Insurance, Malaysia Commercial Insurance, Malaysia Medical Insurance
Arranged by
ACPG Management Sdn Bhd
Malaysia General Insurance Risk Management Solution Provider since year 1989.
ACPG Careline +603-92863323
enquiry@acpgconsultant.com