Indirect loss is also known as time element protection, business interruption and business income coverage
Extended Business Income Coverage
Period - 180 days (double the industry standard)
Business income coverage
insures net income that would have been earned.
Contingent business income coverage
generally requires direct physical loss to scheduled "dependent property," usually the suppliers' or customers' premises.
First, business income coverage
is a key need for any business, and one of the major bonuses of the BOP.
The ruling permits ABM to argue that it has Business Income coverage
for losses totaling more than $100 million.
Includes discussion of ISO business income coverage
form and ISO provisions and endorsements on mold, electronic data, war, and terrorism
An insurance company defending against a property or business income coverage
claim may need to subpoena documents from third parties who have business relationships with the insured.
Insurers introduced simplified commercial lines forms about 15 years ago, and business income coverage
has been giving risk managers headaches ever since.
Highlights of the Retail Furniture Store Insurance Program include property coverage with optional deductible levels and Business Income coverage
valued at Actual Loss Sustained.
The end of the year is a good time to review your clients' business insurance policies, especially their business income coverage