Search
 

Business, Interrupted

A former boss always said that business-interruption claims were the most difficult type of claims to handle.

By Diana B. Reitz, CPCU | Updated on August 02, 2007

A former boss always said that business-interruption claims were the most difficult type of claims to handle. And he was right about that, at least partly because of the convergence of issues that occur in these hybrid accounting/insurance claims.

First you have to be sure coverage applies, and then you have to figure out how much the insured business owner can collect. Business-income policies require direct damage to or loss of property by a covered cause of loss, a necessary suspension of business operations as a result of that damage, and an actual loss of business income.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.