Contributing Properties Coverage
Same as term Contingent Business Income Coverage Form: coverage for loss in the net earnings of a business if a supplier business, subcontractor, key customer, or manufacturer doing business with the insured business cannot continue to operate because of damage or destruction. For example, a specialty hot dog stand noted for its great buns cannot sell its product if the bakery supplier of hot dog buns bums down. In instances where a business is heavily dependent on its suppliers or subcontractors, interruption of the flow of material from the supplier usually results in a substantial loss to the business.
Popular Insurance Terms
Largest property and casualty insurance company trade association in the world (international membership)whose objectives include the service of its membership through positive legislation ...
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Endorsement to an existing policy or a separate policy covering loss of rental income to the property owner, caused by the damage or destruction of a building, rendering it unrentable. The ...
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