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 ?
Although weather-related catastrophes are the most common source of business interruption insurance claims, a wide array of more mundane circumstances can also trigger such claims.
As relevant to this appeal, plaintiffs alleged [*4] that a special relationship existed with CHI and that CHI had negligently secured inadequate levels of business interruption insurance for all three losses.
Only about two thirds of small businesses carry business interruption insurance, making this group highly vulnerable to the financial devastation that outside events can bring.
In contrast, business interruption insurance can keep sufficient income flowing into the farm to enable it to survive while the building is out of action.
I was at a meeting of a disaster safety coalition whose members wanted to learn more about business interruption insurance. They had heard widely disparate views from colleagues that ranged from those who considered it a business imperative to those who felt it was downright worthless.
However, business interruption insurance (which will be the policy most businesses will turn to in hope) is almost always linked to property.
The following is a brief discussion of some of the more notable traps and gaps that may be lurking in your camp's business interruption insurance policy.
The firm reported an income of USD12m related to claims under its property damage and business interruption insurance policies, including USD6m from the company's business interruption policy and USD5.8m from its property damage policy, net of USD0.2m in property damage expenses in the third quarter.
Ray Dillon, president and chief executive officer, said the fourth-quarter improvement was due primarily to the settlement of property and business interruption insurance claims resulting from a fire at the company's Waldo mill during the third quarter of 2007.
The issue there was "whether historic financial data or post-interruption profit expectancies should be used to calculate the business interruption insurance benefits."
Frontier Airlines revenues increased 19.9% to $309.9 million while expenses climbed 25.3% to $306.8 million, producing operating income of $3.96 million including $868,000 in business interruption insurance proceeds.
Roger has spent over 27 years of his career specialising in property and business interruption insurance.
You can also purchase business interruption coverage, or even contingent business interruption insurance, to pay for lost business when the weather shuts you or your suppliers or customers down.
Bevis also reported that insurance underwriters are becoming very interested in industrial thermography and he expects that at some point thermography programs may become an integral element of business interruption insurance polices.
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