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 ?
Risk managers are buying within their business interruption policies specified replacement limits for longer-term outages on a per-unit basis with daily or monthly limitations on the amount that can be claimed.
The webinar is led by an expert in updating business interruption policies for 2011, Andrew Gordon & James W.
Everything you need to know in 60 minutes to update the language in your business interruption policies for 2011
Risk managers should take a second look at their existing business interruption policies to see if this kind of risk is covered.
Munich Re said it expected a hit in the medium hundreds of millions of euros from Sandy, adding that it currently did not look like so-called contingent business interruption policies, for companies not directly hit by the storm, would play a big role.
The Company expects that further expenses will be incurred in the fourth quarter and additional recoveries under both its property damage and business interruption policies are being pursued.
8 million of recoveries under business interruption policies associated with the Canal Street accident for the period from April 1, 2007 through October 27, 2007, the date that we determined and agreed with our insurance carrier that we had fully recovered from the accident.
Business interruption policies have high dispute risk under normal circumstances and these are anything but normal circumstances;
ACE Spectra insurance can be used to reduce windstorm deductibles in current property and business interruption policies while limiting the accumulation of losses from multiple storms in a season.
Storm Tracker fills the hurricane-related coverage gaps in current property and business interruption policies and can cover the threat from multiple hurricanes during the annual policy term.
Business interruption policies also cover the extra expenses incurred in attempting to resume operations, such as the expense of salvaging inventory or relocating an office.

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