Contingent Business Income Coverage Form
Definition of "Contingent business income coverage form"
Coverage for loss in the net earnings of a business if a supplier business, subcontractor, key customer, or manufacturer doing business with the insured business cannot continue to operate because of damage or destruction. For example, a specialty hot dog stand noted for its great buns cannot sell its product if the bakery supplier of hot dog buns bums down. In instances where a business is heavily dependent on its suppliers or subcontractors, interruption of the flow of material from the supplier usually results in a substantial loss to the business.
Popular Insurance Terms
Circumstance that produces the loss. ...
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Option to an insurance company to replace, reconstruct (repair), or reproduce (rebuild) damaged or destroyed property covered by property insurance rather than indemnify an insured in cash. ...
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