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Making the Right Decision for Your Business
The basic difference between Gross Earnings and Gross Profit is the indemnity period. Gross Earnings allows for the time to repair or replace damaged property with due diligence. GP has a specific period of indemnity, generally 12 months.
Gross Earnings was originally designed for manufacturing, mining and construction risks. Gross Profit has traditionally been used for mercantile risks. However, both forms are flexible enough to handle all types of industries. Our proprietary GE/GP tool is intended to give a quick answer to which approach will best suit your business needs. To assess the right direction for you, fill out the form below, submit and see your results.
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