Question

What is the meaning of "Loss of Profit Policy"? How the amount of claim
to be find out under the loss of profit policy?​

Answer 1

Answer:

It is the loss suffered due to reduction in sales. It is calculated by applying the gross profit ratio to the short sales i.e difference between the possible sales (Adjusted STO) and the Actual sales (IPTO) during the period of dislocation

Explanation: