Dependent Properties Business Income Form
Definition of "Dependent properties business income form"
Form that provides insurance coverage for the insured in the event the damage or destruction of non-owned property reduces or terminates the insured's earnings. For example, if the insured manufactures plastic airplane kits, and the supplier of the plastic for making the airplanes has a catastrophic fire at its plant, the manufacturer would not be able to continue to produce the kits in the necessary volume. Thus, the manufacturer would be indemnified by the insurance company for its lost earnings.
Popular Insurance Terms
Insurance coverages for businesses, commercial institutions, and professional organizations, as contrasted with personal insurance. ...
Money expended with the object of profit. The goal of an insurance company is to invest in assets with a rate of return greater than that to be paid out as benefits under its policies. ...
Peril that occurs when personal property of two or more people is mixed to such an extent that any one owner can no longer identify his or her property. ...
Termination of a contractual obligation for immediate performance. For example, under the homeowners insurance policy, if the insurer refuses to pay a claim, the insured (if not satisfied ...
Provision in Social Security: to receive retirement monthly income, a participant must have earned income on which Social Security taxes were paid for at least 10 years or 40 quarters. ...
Risk management control device used to minimize accidents and injuries to employees resulting from an unsafe working environment. For example, potential cumulative trauma disorders losses ...
Provides the same coverage as a comprehensive personal liability insurance policy, plus coverage to exposures that are peculiar to farms, such as farm business operations, farm employees ...
Same as term Debit Insurance: life insurance on which a premium is collected on a weekly, bi-weekly, or monthly basis, usually at the home of a policyholder. The face value of the policy is ...
Same as term Calendar Year Experience: paid loss experience for the period of time from January 1 to December 31 of a specified year (not necessarily the current year). ...
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