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
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Payment to a broker, master general agent, general agent, or agent on any particular line of insurance written by other agents within a particular geographical area. ...
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Enacted on April 1, 1997; provides protection against creditors for irrevocable trusts provided that the trust has a grantor who is a discretionary beneficiary. In order for the statute of ...
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