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This policy covers the consequences of a fire and perils claim. It aims to replace the lost income/profit which would have been achieved by the business if the loss had not occurred. When a fire or related damage occurs, the business/ organization loses its productive capacity or future earning power which is of paramount importance to the client. Normal business activities may even cease or be curtailed drastically and the gross profit reduced or eliminated.

Consequential Loss Insurance therefore enables the client to recover the lost/ reduced gross profit resulting from reduction in turnover following the insured event and/or reasonable additional expenditure incurred in minimizing the reduction in turnover.


In order to place a Fire & Perils insurance Policy, the client will need to provide the following details:-

  • Full Name of the client /proposer for insurance, Postal Address, Telephone Contact, PIN Number, Occupation (from which client derives his income)
  • Gross salaries and wages paid to all employees
  • Annual gross profit for the last 12 months
  • The period it would take the business to recover back to it’s full operations in the event of a major loss resulting from fire or related perils.


Fire and such related risks can have devastating effects on the ability of the business to continue operating in its previous capacity and in the event of a huge loss, the gross incomes earned by the business may drastically reduce to minimal levels. The client may equally be forced by circumstances to take emergency measured to stay in business such as hiring alternative temporary premises as repairs are carried out, shipping equipment by air to fast track recovery, paying employees’ salaries when they are not working to retain key labour, hiring alternative equipment etc. to continue operations. The value of consequential losses arising from a fire or a related incident could be much higher than the value of the property damaged hence this insurance is a critical risk mitigation tool to ensure continuity of business following a fire catastrophe.

KCB Insurance with its experienced claims team will support you through the process to ensure the claims are processed effectively and efficiently.

Examples of loss situations include; loss of rental income for owners of rental properties, loss of school fees income for schools & colleges, loss of gross revenue for professional firms such as estate agents, advocates, accountants & doctors, loss of gross income for manufacturers following destruction of production machinery etc.

In the event of a fire or related claim occurring, we shall require the following documents in order to process the claim:-

  • Claim notification to the KCB Insurance Agency to facilitate the appointment of a loss adjustor.
  • Take necessary steps to minimise the losses.
  • A Duly completed Claim form and statement on the circumstances of the loss.
  • Notify the police and obtain a Police abstract.
  • Witness(es) statements.
  • Furnish the loss adjustor with all documents requested such as audited financial reports for the most recent financial period.

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