What is another name for indirect loss

Consequential loss (also known as indirect loss) arises from a special circumstance of the case, not in the usual course of things.

What is an indirect loss?

Indirect Loss or Consequential Loss Coverage\n\n Indirect loss insurance, often referred to in business insurance policies as "consequential losses," are not inflicted by the peril itself but describe losses suffered as a result or consequence of the direct loss.

Is an indirect loss is the same as a consequential loss?

Indirect losses that are the result of physical damage and adversely affect normal business operations may be considered consequential losses. Coverage of consequential losses may include compensation for ongoing obligations such as salaries and fixed operational expenses.

What is indirect financial loss?

Indirect Losses means loss of profits, loss of use, loss of production, increased operating costs, loss of business, loss of business opportunity, loss of reputation or goodwill or any other consequential or indirect loss of any nature, whether arising in tort or on any other basis.

What is indirect loss in risk management?

A loss or damage that results from an insured's inability to use his/her property because of direct loss to the property of others.