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business interruption insurance

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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.


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In the case of most insurance policies, consequential loss is not frequently covered in the policy, so for many businesses, the only way to be covered for it is to have Business Interruption Insurance.
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.
96 million including $868,000 in business interruption insurance proceeds.
 
 
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