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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changed the name of the old business interruption policies. The new names for the forms are business income and extra expense coverage, or business income (excluding extra expense) coverage.
He is also concerned that the long list of insurances required - although not all compulsory - such as business insurance to cover employers' liability, public liability, product liability and business interruption policies, could make people think twice about starting their own enterprise.
As policyholders' trusted, professional advisors, independent agents will be called upon or will wisely take the time to reflect together with clients' on business interruption policies, to which end we present Dr.
Typical business interruption policies cover the loss measured at gross earnings less other discontinuing expenses.
Traditional business interruption policies focus on damage caused by fire or flood and do not consider DoS attacks at all.
The original pounds 150m loss estimate, based on exposure to aviation, property, worker compensation and business interruption policies, was made three days after the atrocities.
Many business interruption policies contain a co-insurace clause (also called a "contribution percentage").
In the event of concrete losses due to system shutdown, some business interruption policies may kick in as well, as could business interruption provisions within a cyber policy, if buyers elected to obtain that coverage.
Gross earnings business interruption policies, which have been in existence since before the business income form was first issued, will produce a different loss amount than a business income form in Calif.
Under most business interruption policies, amounts paid to salaried employees are treated as a continuing expense and paid.
The policy can cover losses from a single or multiple hurricanes during the annual policy term, and can be used to reduce windstorm deductibles in current property and business interruption policies while limiting the accumulation of losses from multiple storms in a season.
Some business interruption policies also include coverage for ordinary payroll or wages paid to an hourly workforce.
The policy is triggered if the Super Bowl is canceled or moved for any reason, whereas most business interruption policies are triggered by physical damage.
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