Loss of profits (Total loss)
a. The gross profit percentage shall be applied to the verified reduction in sales during the indemnity period.
b. Any expenses that may have been incurred by the insured in an attempt to lessen or prevent a reduction in business activities, which otherwise would have affected the sales during the indemnity period, shall be identified.
c. The reduction in sales that would have occurred had the expenses identified in the previous section not been paid out shall be calculated and the gross profit percentage shall be applied.
d. The two figures obtained in accordance with the previous two sections shall be compared.
e. The figure obtained in section a. shall be added to the lower of the two figures compared in section d.
f. Any savings made on any of the business's permanent expenses during the indemnity period as a result of the reduction or stoppage in business activities shall be subtracted from the amount calculated in the previous section.
21. Calculation of the indemnity
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Liberty Commercial Premises insurance