Recent content by MARK MARSHALL

  1. M

    Business Interruption Insurance Payouts

    Their definition of Gross Profit, is about 'turnover' which is Income. The elephant in the room, is merely, from our £38,000 of Income (2019/2020) - what can be deducted. We bought food costing £600 - so I am expecting £37,400 to be reimbursed !
  2. M

    Business Interruption Insurance Payouts

    --------------------------------------------------------------------------------------------------- My Policy wording, is posted above for you to read. Gross Profit is what we seek payment of ! My question is all about the calculation of same. What it includes and allowed deductions form our...
  3. M

    Business Interruption Insurance Payouts

    Imran. Could you find time to comment on my scenario please. Income from dogs, mostly cash £38,000 over 12 months. No work in progress, no bad debt and no stock. We do not sell a product If I was doing a tax return, I would have allowable expenses of some £14,000 So - for the purposes of a...
  4. M

    Business Interruption Insurance Payouts

    I had a nice chat with my Broker today and he gave me the low down. It seems that I was fortunate in that my BII policy had the Infectious Disease section - referring to problems at my kennels or within 25miles. That is the killer wording for the Insurers. Then we spoke about INDEMNITY and can...
  5. M

    Business Interruption Insurance Payouts

    ---------------------------------------------------------------------------- Kennels are still, basically not operating - looking like June 2021 judging by phone calls. I have asked about the indemnity and await a reply......
  6. M

    Business Interruption Insurance Payouts

    ------------------------------------------------------------------------ This is why I have asked my questions. The Insurers ought to get together and decide on a uniformity of dates and understanding..... so that claimants are treated the same. In my scenario, that have ingored the 5/3 date and...
  7. M

    Should there be total conformity in how BI claims are processed ?

    ------------------------------------------------------------I appreciate that - what one expects, is fairness and not to gain unduly. To be paid out as the policy reads.....!
  8. M

    Should there be total conformity in how BI claims are processed ?

    ---------------------------------------------------------------------------------------- Does not actually say - just refers to what is 'reinstated' and that is meant to be GROSS PROFIT ?
  9. M

    Business Interruption Insurance Payouts

    ---------------------------------------------------------------------------- I totally agree. If you lost INCOME before 5/3/20 that could be the ''trigger point'', or it could well be 5/3........Your Policy wording looks very positive.... Good luck.
  10. M

    Should there be total conformity in how BI claims are processed ?

    ------------------------------------------------------------------------------------------------------------ Gross Profit is based on INCOME and one normally pay's Tax on the Nett figure - once expenses are taken off. With BI it's still INCOME minus what it has cost you to manufacture, what you...
  11. M

    Business Interruption Insurance Payouts

    --------------------------------------------------------------------------------------------------------- Richard - did your Policy contain the wording about disease at your premises, or within a 25 mile radius ? Also what period is your indemnity ?
  12. M

    Should there be total conformity in how BI claims are processed ?

    I have a dog Boarding kennels - and we were lucky enough to have Business Interruption (BI) cover of £40,000 and it clearly states, a 12 month Indemnity and in respect of ''GROSS PROFIT'' Didnt get an issue about the acceptance, following the Court case but have issues now over the period...
  13. M

    Business Interruption Insurance Payouts

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