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Q8.
1
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Using sophisticated modelling, it is possible to determine the accurate Rate of Gross Profit for all businesses in a single industry, which is accurate enough to rely upon when setting the Sum Insured or Declared Value under a Business Interruption policy.
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Q8.
2
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Architects, accountants, actuaries, lawyers and other similar ‘office’ risks would have an indicative Rate of Gross Profit of around 50% to 60%.
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Q8.
3
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A copy of the database of indicative Rates of Gross Profit by industry, linked to the ANZSIC codes, is available under an annual licence.
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Q8.
4
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Two businesses within the one industry could have vastly different rates of insurable Gross Profit.
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Q8.
5
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A motel that owns and operates its own laundry would, all other things being equal, have a higher rate of insurable Gross Profit than one that outsources their laundry.
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