business interruption insurance

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Noun1.business interruption insurance - 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
insurance - promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
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Marsh says that incidents like this fall under the terms of the business-interruption policy.
Although foreign catastrophes are not typically covered under the typical contingent business-interruption policy, risk managers still need to be aware of the risk and plan for them.
Ideally, the parameters for calculating business-interruption claims, including post-event economic impact, should be clearly spelled out in a business-interruption policy. As a result of Hurricane Andrew in 1992 and the terrorist attack on New York and Washington, D.C.

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