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.
References in periodicals archive ?
Apparently DIRECTV had contingent business interruption coverage, but did not have coverage for secondary dependencies.
Business interruption coverage, also sometimes referred to as business loss of income coverage, can help replace lost income when your operations are suspended and can no longer operate due to a covered loss.
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.
The lack of business interruption coverage created problems for the local businesses that remain open year-round.
authority from other jurisdictions, we find that 'interruption of business' is an unambiguous term meaning 'cessation or suspension of business.' Therefore, Quality was not entitled to business interruption coverage for the work slowdown it experienced, and we find the trial court did not err in granting Michigan's motion for summary judgment." (59)
Piccinini suggested a conference call with myself, the rail risk manager, and the carrier for these coverages so we could have an open discussion with potential scenarios on both policies and see if (the agency) had resources to handle the situation if a loss occurred, or if the business interruption coverage was a cost-effective and necessary route to go," McWeeney said.
* Business interruption coverage for any network outage, including extra expense.
We believe this book will help all of us to better understand the complexity of business interruption coverage, claims, and recovery.
Review the policy, talk with a representative about the loss and discuss business interruption coverage for loss of income as well as reimbursement for expenses such as temporary office space and equipment.
The company's insurance covers liability risk for terrorism but excludes it for property and business interruption coverage. Brookfield and other real estate owners are working with the insurance industry and the US government to ensure that the government, supported program being proposed for terrorism risk is enacted at the earliest practical opportunity.

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