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
Stated fixed payment for maternity costs regardless of the actual costs. ...
Property valued according to its earnings potential. However, property insurance contracts generally indemnify an insured on a replacement cost less physical depreciation and obsolescence ...
Risk distribution included by type of coverage, by kind of risk, and by geographical location. ...
Maximum limit of liability of an insurance company for a particular claim or kind of loss that is applicable in general to all such claims or losses. This maximum limit of liability is ...
Means of borrowing at no charge by a policyowner under universal life insurance policies. ...
Coverage underwritten on members of a natural group, such as employees of a particular business, union, association, or employer group. Each employee is entitled to benefits for hospital ...
Statistic indicating the degree of dispersion in a set of outcomes, computed as the arithmetic mean of the differences between each outcome and the average of all outcomes in the set. ...
Coverage for exposures that exhibit a possibility of financial loss. ...
Type of individual retirement account (IRA) allowed by the employees retirement income security act of 1974 (erisa) in which contributions are paid into a custodial account sponsored by a ...
Have a question or comment?
We're here to help.