Business Interruption Insurance

Definition

• Insurance used to replace business income lost after an event, such as a fire, disrupts normal business operations. Business interruption insurance is almost exclusively used in conjunction with property, casualty, or some other blanket insurance policy. Also known as "use and occupancy insurance (U&O)" or "business income coverage."

Synonyms
business suspension insurance, severance insurance

Acronyms
BII

Related Terms and Acronyms

• Business Continuation Insurance — Definition,
  • Insurance that provides coverage in the event that someone integral to the operation of a business dies or becomes disabled.
• Completed Operations Insurance — Definition,
  • Insurance that provides protection against liability after contractual obligations have ended.
• Consequential Loss — Definition,
  • The financial loss that occurs due to an entity's inability to use an asset or property.
• Operating Cash Flow (OCF) — Acronym,
  • The money a company generates from its business operations. This revenue excludes costs from certain investments.
• Use and Occupancy Insurance (U&O) — Acronym,