business interruption insurance

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  • noun

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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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"Dependent properties" is the new name for what the industry has long referred to as contingent business interruption coverage. It has the advantage of being somewhat decipherable when you explain it to clients, they should have some idea how the name came about.
The commercial auto coverage is a suite of commercial property and casualty products specifically designed for small business owners and offers property, liability and business interruption coverage.
Examine your crime and fidelity policies, and contingent business interruption coverage. Does the theft of your data amount to a "publication" that violates a "right of privacy?" Does your directors and officers liability policy cover investigation costs for something like this?
Then there are the dealers who can't sell the cars already on their lots; depending on how their business interruption coverage is structured, they may or may not get some relief.
But no more, as ISO offers a fully baked business income solution: the CA 99 05 02 14, Business Interruption Coverage. This endorsement can be attached to the business auto, auto dealers or motor carrier coverage forms.
Business interruption coverage played a critical role in the survival of many businesses that were unable to open due to power outages, resulting in loss of revenue and loss of property.
Weigh the price, but realize that contingent business interruption coverage is not a commodity where you are comparing apples to apples.
"By bringing Dempsey Partners to Aon, we can supplement our claims expertise as well as provide critical support to clients seeking to ensure the adequacy of their business interruption coverage in advance of any loss."
Baker has since purchased a business owners insurance policy that includes business interruption coverage, also known as business income insurance.
Loss of use of the property and business interruption coverage also are excluded in NFIP policies.
* For commercial lines: The best approach is to review the true business impact of a catastrophe, operational considerations, technology coverages, business interruption coverage adequacy, flood coverages, deductibles and property value coverages.
Traditionally, companies have attempted to lower their risk or exposure of supply chain interruptions by procuring Business Interruption (BI) coverage or Contingent Business Interruption coverage (CBI).
For one client, Durante negotiated $25 million of additional property limits, greater business interruption coverage and a more than two-fold increase in various sublimits--for the expiring premium.
Let's say UL Beverage had typical property insurance coverage on its facilities, such as replacement cost coverage for damage to its property, plant and equipment, and business interruption coverage, including ordinary payroll.
Generally, business interruption coverage extends to this situation if the order prohibiting access to your property is because a covered cause of loss insured under your policy has caused direct physical loss or damage to property elsewhere.
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