business interruption insurance

(redirected from Business Interruption Coverage)
Also found in: Dictionary, Thesaurus.

Business Interruption Insurance

An insurance policy that provides coverage in case some event causes a business to relocate or temporarily close. For example, if an office floods and becomes unusable, business interruption insurance will replace the profits the company would have made during the time it is closed and also will cover its operating expenses. It is also called business income coverage.

business interruption insurance

Insurance that provides benefits if business is interrupted while repairs are conducted after an insurable loss.
References in periodicals archive ?
Seek help from your insurance agent or broker to undertake a side-by-side comparison of different insurance products offered by different insurance companies offering contingent business interruption coverage.
As for future cyber insurance policies, Sacia predicts a greater demand for business interruption coverage and a need for expense coverage with huge limits.
Recent news headlines put the emphasis on an additional component of business interruption coverage that should be considered: civil authority insurance, which covers a loss of business triggered by a governmental action (police commissioner, mayor, state attorney general, etc.
Contingent business interruption coverage may give coverage where a business faces loss due to its suppliers' inability to offer needed parts and resources, or its customers' inability to take delivery of product because of the damage to their own business ventures.
Emerging Opportunities in Business Interruption Coverage for Insurance Agents and Brokers
Benchmark has insurance coverage for the flood/water damage to its facility and also carries business interruption coverage.
Business interruption coverage, familiar to property insurers, is needed to cover the loss of revenue if a security breach causes a material disruption to a company's computer system and sales suffer as a result.
Thus, business interruption coverage should provide indemnity for those losses.
Having the right business interruption coverage can make the difference between keeping a business alive and forcing it to close its doors forever.
The white paper is based on the webinar "Emerging Opportunities in Business Interruption Coverage for Insurance Agents and Brokers," sponsored by Zurich North America.
A good cyber insurance policy will include first party or business interruption coverage.

Full browser ?