WordNet
- 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
- incidental activity performed by an actor for dramatic effect; "his business with the cane was hilarious" (同)stage business, byplay
- the volume of commercial activity; "business is good today"; "show me where the business was today"
- business concerns collectively; "Government and business could not agree" (同)business sector
- a commercial or industrial enterprise and the people who constitute it; "he bought his brothers business"; "a small mom-and-pop business"; "a racially integrated business concern" (同)concern, business concern, business organization, business organisation
- a rightful concern or responsibility; "its none of your business"; "mind your own business"
- an immediate objective; "gossip was the main business of the evening"
- some abrupt occurrence that interrupts an ongoing activity; "the telephone is an annoying interruption"; "there was a break in the action when a player was hurt" (同)break
- 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
PrepTutorEJDIC
- 〈U〉(生計のための)『職業』,商売;任務,仕事 / 〈C〉『店』,『会社』,商社 / 〈U〉『商取引』,商売 / 〈C〉事,事柄(matter, affair);用事,用件 / 《おもに否定文・疑問文で》(個人的)関心事,責任のある事
- 〈U〉〈C〉(…の)じゃま,妨害,中断《+『of』+『名』》 / 〈C〉妨害する物;さえぎる物
- 〈U〉『保険』保険契約 / 〈U〉『保険金』,保険料 / 〈U〉保険業 / 〈C〉(一般に)予防(保護)手段
Wikipedia preview
出典(authority):フリー百科事典『ウィキペディア(Wikipedia)』「2017/06/12 19:15:53」(JST)
[Wiki en表示]
Business interruption insurance (also known as business income insurance) is a type of insurance that covers the loss of income that a business suffers after a disaster. The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster.
It differs from property insurance in that a property insurance policy only covers the physical damage to the business, while the additional coverage allotted by the business interruption policy covers the profits that would have been earned. This extra policy provision is applicable to all types of businesses, as it is designed to put a business in the same financial position it would have been in if no loss had occurred.[1]
This type of coverage is not sold as a stand-alone policy, but can be added onto the business' property insurance policy or comprehensive package policy such as a business owner's policy (BOP). Since business interruption is included as part of the business' primary policy, it only pays out if the cause of the loss is covered by the overarching policy.[2]
Coverage
The following are typically covered under a business interruption insurance policy:
- Profits. Profits that would have been earned (based on prior months' financial statements).
- Fixed Costs. Operating expenses and other costs still being incurred by the property (based on historical costs).
- Temporary Location. Some policies cover the extra expenses for moving to, and operating from, a temporary location.
- Commission & Training Cost. Business Interruption (BI) policy essentially covers the cost of providing training to the operators of the machinery replaced by the insurer following the insured events.
- Extra Expenses. Reimbursement for reasonable expenses (beyond the fixed costs) that allow the business to continue operation while the property is being repaired.
- Civil Authority Ingress / Egress. Government-mandated closure of business premises that directly causes loss of revenue.[3] Examples include forced business closures because of government-issued curfews or street closures related to a covered event.[4]
This coverage extends until the end of the business interruption period determined by the insurance policy. Most insurance policies define this period as starting on the date of the covered peril and the damaged property is physically repaired and returned to operations under the same condition that existed prior to the disaster.[5]
In addition, businesses can purchase contingent business interruption coverage, which pays out when a business is unable to operate because of an event (such as a natural disaster) that damages the business premises of one of its suppliers or customers, thus preventing it from engaging in normal trade.[6]
References
- ^ "Business Income Insurance: Having and Understanding This Coverage Can Be Essential to a Company's Survival". adjustersinternational.com. 2011. Retrieved July 28, 2014.
- ^ "Do I need business interruption insurance?". iii.org. 2011. Retrieved August 15, 2011.
- ^ Berry, Doug (2001). "Business Interruption for Denial of Access to Insured Property". irmi.com. Retrieved May 23, 2013.
- ^ "Understanding Civil Authority and Ingress/Egress Insurance Coverages" (PDF). businessincomeworksheets.com. 2009. Retrieved May 23, 2013.
- ^ Thompson, Gary (2011). "Four Rules for Measuring the Business Interruption Period". adjustersinternational.com. Retrieved July 28, 2014.
- ^ Torpey, Daniel (2003). "Contingent Business Interruption: Getting All the Facts". irmi.com. Retrieved May 22, 2011.
External links
- Airmic Property Damage and Business Interruption Benchmarking Report 2012
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Japanese Journal
- 非製造業を対象としたライフライン途絶抵抗係数の推計
Related Links
- Most commercial property insurance policies provide coverage for business income loss by adding an endorsement to the insured’s property policy.
- Business interruption insurance coverage extends until the end of the business interruption period, as determined by the insurance policy. Most business interruption insurance policies define this period as starting on the ...
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- abort、break、discontinuance、discontinuation、discontinue、discontinuity、disturb、disturbance、hamper、hindrance、impede、impediment、intercept、interception、interfere、interrupt、obstruct、occlusion、preclusion
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- commerce、enterprise、price、sale、trade、undertaking、vendor