Business Income

Before any insurance policy responds to a claim, the loss must first meet all the requirements of the insuring agreement. The insuring agreement is the broadest the coverage will ever…

Several lawsuits have already been filed across the US attempting to prove the business income policy is triggered by the presence of COVID-19 or the government shutdowns as a result…

How is the actual loss of business income deciphered? Both ISO-promulgated business income policies (CP 00 30 and CP 00 32) provide guidance on how the actual loss of business…

Many readers may have heard that the first business income/civil authority lawsuit was filed in New Orleans on March 16, 2020. It’s no surprised it was filed; nor was it…

During this pandemic panic the most common question asked of agents dozens of times every day, “Does my business income policy cover the shutdown mandated or recommended by the government?”…

Is employee payroll covered by the business income policy? One part of the contract seems to state that only the payroll of employees necessary to resume operations is covered. Is…

For businesses with operations that rely extensively on auto fleets, damage to vehicles can result in significant business income losses. Commercial property forms exclude damage to autos, but do they…

An insured veterinarian generates 50-60% of her income from two specially-equipped mobile vet labs she uses on visits to area farms or clients who have acreage and horses. She has…

An agent asks, “I’m quoting a tank fabrication operation. They manufacture large metal tanks at their facility, transport the tanks to the customer’s location, and install them. The current agent…

Non-BOP business income coverage is written on a coinsurance basis; however, some agents are afraid of coinsurance for a couple reason: 1) they don’t know how to develop the proper…