Business Interruption Insurance
- Business Interruption Insurance
- A form of insurance coverage that replaces business income lost as a result of an event that interrupts the operations of the business, such as fire or a natural disaster. Business interruption insurance is not sold as a separate policy, but is either added to a property/casualty policy or included in a comprehensive package policy.
Business interruption insurance premiums (or at least the additional cost of the rider) are deductible as ordinary business expenses. This type of policy pays out only if the cause of the business income loss is covered in the underlying property/casualty policy. The amount payable is usually based on the past financial records of the business.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
business interruption insurance — ➔ insurance … Financial and business terms
business interruption insurance — Insurance protecting against loss from the interruption of business as a whole, as distinguished from coverage upon the merchandise or other property owned, held, or used in the business. 29A Am J Rev ed Ins § 1366 … Ballentine's law dictionary
business interruption insurance — noun 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 • Hypernyms: ↑insurance * * * noun : insurance against loss of net… … Useful english dictionary
business indemnity insurance — See business interruption insurance … Ballentine's law dictionary
business interruption — UK US noun [C or U] ► INSURANCE a period when a business cannot operate because of a storm, flood, or other event: »The company shall not be liable for any damages for loss of profits, business interruption, or other pecuniary loss arising out of … Financial and business terms
business interruption policy — ➔ insurance policy … Financial and business terms
business-interruption policy — consequential loss policy; loss of profits policy An insurance policy that pays claims for financial losses occurring if a business has to stop or reduce its activities as a result of a fire or any other insurable risk. Claims can be made for… … Big dictionary of business and management
Business Owner Policy - BOP — Insurance policies that combine protection from all major property and liability risks in one package. A Business Owner Policy or BOP is an insurance package that assembles the basic coverages required by a business owner in one bundle. It is… … Investment dictionary
interruption — I noun abeyance, armistice, arrest, bar, block, break, cessation, check, clog, deadlock, delay, disconnection, discontinuance, disjunction, dissolution, disunion, gap, halt, hiatus, hindrance, impediment, intercapedo, interception, interference,… … Law dictionary
business — I (affair) noun activity, concern, duty, interest, matter, mission, proceeding, proposition, responsibility, task, undertaking foreign phrases: Allena negotia exacto officio geruntur. The business of another is to be carried out with particular… … Law dictionary
