We will provide cover for loss sustained by you as a result of the licence under the Boarding Establishment Act being.
1. forfeited under the provisions of the regulations relating to such licences; or
2. refused renewal by the licensing authority
… provided that such forfeiture or refused renewal results from causes beyond your control.
The amount payable shall be the depreciation in value of your interest in the premises or the business caused by such forfeiture or refused renewal but not exceeding £50,000 and costs and expenses incurred by you with our written consent in connection with any appeal against such forfeiture or refused renewal.