What is direct and indirect losses?
Direct losses refer to the physical or structural impact caused by the disaster such as the destruction of infrastructure caused by the force of high winds, flooding or ground shaking. Indirect effects are the subsequent or secondary results of the initial destruction, such as business interruption losses.
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.
What is the difference between indirect and consequential loss?
Consequential loss (also known as indirect loss) arises from a special circumstance of the case, not in the usual course of things.
What are examples of indirect damages?
Examples of indirect damages fall into two categories, incidental and consequential damages. Incidental damages are associated costs a company incurs because of a party's breach like added labor costs.
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[PDF] Just what is “indirect or consequential loss”? - 'classic' AustLII
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