business income coverage
Insurance covering loss of income suffered by a business when damage to its
premises by a covered cause of loss causes a slowdown or suspension of its operations
during the time required to repair or replace the damaged property. There are
two Insurance Services Office, Inc. (ISO), business income coverage forms: the
business income and extra expense coverage form (CP 00 30) or the business income
coverage form without extra expense (CP 00 32). Previously referred to as business
interruption coverage.
See also: commercial property
coverage forms, commercial
property policy, extra expense
coverage, first-party insurance,
property insurance,
time element insurance,
time element loss.
Links for IRMI Online Subscribers Only:
CPI V.M