Fire Insurance Terminologies

Gross Profit

Gross profit is the profit a company makes after deducting all costs associated with manufacturing and selling its products or services. Deducting the cost of goods sold (COGS) from total sales yields gross profit

Gross Profit is the sum of Net Profit and Insured Standing Charges

Net Profit

Net profit is the total earnings of the company after deducting all expenses. The expenses deducted include the costs of regular business operations, depreciation and taxes