Business Income

Business Income is the most important property coverage. The problem is, some agents only do half the job when protecting the insured’s income loss exposure. There are two loss periods…

Business income coverage responds only when certain conditions are met. Simply losing business income is not enough to trigger coverage. This article explores the conditions that must be met using…

A Louisiana agent asks, “I am stumped on a couple of business income issues, and would appreciate your help. First, I’m trying to figure out the difference between Extended Business…

The ISO CP 00 10 has a coverage gap for property in undeclared buildings that does not exist in their BOP. In this article, VU faculty member Mike Edwards explores…

Is the payroll of hourly works compensable under the ISO CP 00 30 business income form? This situation is another variation on a previous VU article about whether a continuing…

Following a covered loss, a replacement compressor was rented at the cost of about $100 a day. By the time repairs were made, the insured incurred $6,000 in rental costs.…

Underinsuring property is a problem that can result in a significant coinsurance penalty. However, underinsuring business income is particularly troublesome given that coinsurance penalties can be catastrophic. This is particularly…

If a business is operating at a loss, do they need business income coverage? The answer is usually “yes,” though they may or may not be able to recover from…

High temperatures and drought conditions caused a golf course, despite its mitigation efforts, to lose most of its greens. A severe storm downed dozens and dozens of trees on a golf…

Agents who’ve experienced a hard market know that claims are often scrutinized much closer than they are in a soft market. Unfortunately, there are circumstances that sometimes lead to the…