Often,a business suffering a loss from a fire will have insurance to cover the property damage,but there will be nothing to cover the losses the business suffers during the period it is closed down for repairs.What form of insurance will cover the latter issue?

Question

Quizplus · Accepted Answer

Business interruption insurance is designed to cover the losses that a business suffers during the period it is closed down for repairs due to a covered loss such as a fire. This insurance provides coverage for lost income, employee wages, rent, and other expenses that would typically continue even if the business is not operating. Liability insurance, disability insurance, property insurance, and professional liability insurance do not address the issue of lost income due to business interruption.

Often,a Business Suffering a Loss from a Fire Will Have