Secondary dependent properties is a commercial property insurance term relating to dependent...
dependent properties time element coverage
Dependent properties time element coverage is time element property insurance that pays for the loss of income or increase in expenses resulting from damage from a covered cause of loss to the premises of another organization on which the insured depends, such as a key supplier or customer.
Additional Information
The two types are dependent properties business income coverage and dependent properties extra expense coverage. Previously referred to as contingent time element coverage.
Synonyms
business income from dependent properties
Related Terms
