CANADIAN INSURANCE TERM
Business Interruption Insurance
Coverage that can help with eligible lost business income or continuing expenses when operations are interrupted by a covered insured event, subject to the policy wording and period of indemnity.
Plain-language definition. A real policy, endorsement and provincial law can use more specific wording than a glossary summary.
TermBusiness Interruption Insurance
ContextCanadian insurance
Source typeIndustry glossary
Policy wordingControls claim
What does Business Interruption Insurance mean?
Coverage that can help with eligible lost business income or continuing expenses when operations are interrupted by a covered insured event, subject to the policy wording and period of indemnity.
Property damage and lost income are separate insurance questions. Repairing insured property does not automatically reimburse every dollar of revenue lost during a shutdown.
Business Interruption Insurance in practice
If a covered fire forces an insured business to close temporarily, business interruption coverage may respond to eligible income loss and continuing expenses under the policy.