business interruption insurance

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  • noun

Words related to business interruption insurance

insurance that provides protection for the loss of profits and continuing fixed expenses resulting from a break in commercial activities due to the occurrence of a peril

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References in periodicals archive ?
Business interruption insurance has become an essential risk transfer tool.
Technology failures leading to business interruption are "equally damaging to a company's operations, reputation and bottom-line profits," Paxton added.
Many firms and managers may have business interruption insurance.
Microbusinesses have the option of choosing business interruption insurance that covers both of these perils, which can cause significant financial loss, especially if they occur during a peak operating season.
Commenting on the Report, Allianz Managing Director, Terry Towell, has urged small business to consider the risks of not taking out important business insurance covers such as machinery and computer breakdown, and business interruption insurance.
Policies usually have a 48- to 72-hour waiting period before business interruption insurance kicks in.
Ask an experienced insurance broker about deductibles in business interruption insurance.
Insurance companies providing business interruption cover typically provide companies with policies based on sales that would have occurred, not sales that could have occurred, so you will need to have realistic sales and profit projections.
Axa's own research indicates that 90% of businesses are under-insured with one in three having no business interruption cover to pay wages and other costs if the business cannot operate.
David W Smith of Zurich said: 'Whatever the size of the company, business interruption has a huge impact.
Business interruption can originate from a winter storm, the loss of electricity, inaccessibility to a facility for an extended period of time, a hardware failure or software corruption--along with the threats of viruses or hacking and malicious intent from internal or external influences.
Instructed its accounting department to carefully calculate any and all losses sustained including building damage, contents or merchandise damage, business interruption, lost sales, loss of business opportunity or any other damages attributable to the casualty.
Of the 5,493 business interruption claims filed as a result of the terrorist attacks Sept.
The insurance industry is starting to make it clear that basic brick-and-mortar insurance coverage plans are different than the plans covering information loss and business interruption resulting from cyber attacks.
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