Business Interruption Insurance provides indemnification for the loss of profits and continuing fixed expenses when a disaster, such as a fire, prevents business operations.
A Businessowners Policy (BOP) is a package policy commonly tailored for small and medium-sized businesses. It combines property and business interruption insurance to cover a range of expenses resulting from damage, destruction or liability issues related to business operations.
Insurance coverage refers to the total amount and type of insurance a policyholder possesses. It encompasses various forms covering different risks, safeguarding individuals and businesses against potential losses.
Rain insurance is a type of business interruption insurance that indemnifies the insured for loss of earnings and payment of expenses due to adverse weather conditions, particularly rain. This can cover losses from events like fairs, horse races, or boxing matches being rained out, but it does not cover property damage.
