Simplified Earnings Form
Addition to a business property insurance policy to cover loss of earnings, subject to a monthly limit, in the event that property of an insured is destroyed and a business cannot continue. The property insurance policy pays only in the event that property of an insured is destroyed and a business cannot continue. The property insurance policy pays only for direct loss of income-producing property. A building destroyed by fire represents a direct loss. Lost income resulting from the shutdown of a manufacturing facility housed in the burned building represents an indirect loss that would be covered by business interruption insurance, which is written on a number of separate forms.
Popular Insurance Terms
Term meaning that an exporter of goods that are damaged or destroyed during international shipment relinquishes responsibility for the damage or destruction once the goods leave the point ...
Crime against the state for which an officer of the state can bring legal action. Society is harmed by an individual breaking the laws of the state. Usually there is no statue of ...
Particular type of inland marine insurance. ...
Coverage that pays a fixed dollar amount of interest at regular intervals. ...
Negligent acts or omissions that result in actual or imagined bodily injury and/or property damage to a third party, who brings suit against a business firm and its representatives ...
Provision of liability insurance that excludes coverage for dishonest acts of an insured. ...
Automatic right of an insured to renew a policy until a given date or age except under stated conditions. It is extremely important for the purchaser to review the conditions for renewal in ...
Attachment of decreasing term life insurance to an ordinary life policy to provide monthly income to a beneficiary if death occurs during a specified period. If the insured dies after the ...
Difference between the rent received by a lessee for the subletting property and the rent the lessee pays the lessor. ...
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