Financial Loss

27 Aug

Typically, there is a distinction between three types of financial loss:

a) consequential – this follows bodily injury or property damage to third parties, many policies provide coverage for this

b) following non-insured bodily injury or property damage. In this situation, the BI and PD aren’t covered and therefore the resulting financial loss is not covered either unless covered as in c below

c) pure financial loss describes situations where there is no BI and/or PD. Usually this requires a coverage extension.


Leave a reply

Your email address will not be published. Required fields are marked *