For which class of insurance is it essential to know the length of the indemnity period and potential loss of revenue?

The class of insurance for which it is essential to know the length of the indemnity period and potential loss of revenue is business interruption insurance. This type of insurance specifically covers the loss of income that a business may suffer after a disaster, such as a fire or flood, that disrupts its ability to operate.

Understanding the length of the indemnity period is crucial because it defines how long the business will be covered for its loss of income after the incident occurs. Additionally, assessing potential loss of revenue helps in determining the appropriate coverage amount to ensure the business can maintain its financial stability during the period of interruption.

In contrast, products liability insurance focuses on legal liability for damages caused by defective products, public liability insurance deals with claims related to injuries or damages occurring in public spaces, and theft insurance primarily covers the loss of property due to theft, none of which require detailed knowledge of indemnity periods or loss of revenue in the same way that business interruption insurance does.