Increase in Cost of Working definition

Increase in Cost of Working means the additional expenditure necessarily and reasonably incurred by the Insured during the Indemnity Period with the aim of maintaining in that period a turnover of business not exceeding that of the corresponding period in the twelve months immediately prior to the interruption.
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Increase in Cost of Working means the additional expenditure necessarily and reasonably incurred in consultation with Us for the sole purpose of avoiding or diminishing the Reduction in Turnover which, but for such expenditure, would have taken place during the Indemnity Period.
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Examples of Increase in Cost of Working in a sentence

  • The Company shall not indemnify the Insured under Section 5 in respect of cover under Limit of Indemnity - Increase in Cost of Working the costs of Reinstatement of Data and Reinstatement of Programs onto Media.

  • If the computer operations of the Business are interrupted or interfered with due to the occurrence during the Period of Insurance of an Incident the Company will pay as Increase in Cost of Working the additional expenditure necessarily and reasonably incurred by the Insured during the Indemnity Period in consequence of such interruption or interference.

  • The Company will subject to Limit of Indemnity – Increase in Cost of Working shown in the Schedule pay to the Insured the reasonable charges payable by the Insured to their professional accountants for producing particulars of any claim for which indemnity is provided by Limit of Indemnity – Increase in Cost of Working.

  • If any standing charges of the business be not insured by this policy then in computing the amount recoverable hereunder as Increase in Cost of Working that proportion only of the additional expenditure shall be brought into account which the sum of the Net Profit and the Insured Standing Charges bears to the sum of Net Profit and all the Standing Charges.

  • If any standing charges of the business be not insured by this policy (having been deducted in arriving at the Gross Profit defined herein) then in computing the amount recoverable hereunder as Increase in Cost of Working that proportion only of the additional expenditure shall be brought into account which the Gross profit bears to the sum of the Gross profit and all the Uninsured Standing Charges.

  • If any standing charges of the business be not insured by this policy (having been deducted in arriving at the Gross Profit as defined herein) then in computing the amount recoverable hereunder as Increase in Cost of Working that proportion only of the additional expenditure shall be brought into account which the Gross Profit bears to the sum of the Gross Profit and all the Uninsured Standing Charges.

  • Loss will be calculated as any combination of gross revenue; and Additional Increase in Cost of Working during the indemnity period.

  • In computing the amount recoverable hereunder as Increase in Cost of Working, that proportion only of the additional expenditure incurred in respect of the Indemnity Period shall be brought into account which the amount of Wages bears to the sum of Net Profit and all the Standing Charges and Wages.

  • In computing the amount recoverable hereunder as Increase in Cost of Working, that proportion only of the additional expenditure incurred in respect of the Indemnity Period shall be brought into account which the amount of payroll bears to the sum of Net Profit and all the Standing Charges and Payroll.

  • If any standing charges of the business be not insured by this policy (having been deducted in arriving at the Gross Profit defined herein) then in computing the amount recoverable hereunder as Increase in Cost of Working that proportion only of the additional expenditure shall be brought into account which the Gross Profit bears to the sum of the Gross Profit and all the Uninsured Standing Charges.