business interruption insurance

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Related to Business Interruption Policy: Business Interruption Coverage
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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 ?
If your business premises are shut down due to earthquake damage, you'll need to have earthquake coverage to make a claim under a business interruption policy.
25, 2003), the United States District Court for the Southern District of New York ruled that the period of restoration in a business interruption policy would not extend to the policy's maximum of 12 months and 30 days.
Thus, for example, a company that is operating at a loss prior to the interruption may not be in a position to recover under a business interruption policy.
A business interruption policy, to cover loss of income, is essential, as is protection against claims arising from employees, visitors or patients.
Protection against these hazards can be written into your business interruption policy, but you have to ask for it.
However, it's sometimes possible to add an extra expense clause to the business interruption policy that covers expenses over and above those that reduce or mitigate the loss.
The broker renewed the business interruption policy with the same limits at the new, larger location.
However, using stock throughput insurance in conjunction with a business interruption policy can be a comprehensive, holistic and progressive way of addressing transit risk in today's complex global supply chain.
A business interruption loss in a property and business interruption policy is often defined as "the reduction in business income, less charges, that do not necessarily continue during the suspension of operations.
The risk manager also must understand the variety of available business interruption policy endorsements (see Chapter 2).
That happens all the time and has a measurable impact on many businesses around the country but that's not something a business interruption policy can respond to.
Issue: Is there a "suspension of 'operations'" as required by a business interruption policy when there is a partial but not a total interruption of business?
It falls outside the period of indemnity covered by the business interruption policy.
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