Business Interruption Insurance
Coverage that assists in recovering lost revenue and managing additional costs during business disruptions resulting from a qualifying loss
Detailed Explanation
This coverage can help pay for things like lost profits, rent, and employee salaries while the business is unable to operate due to covered perils like a natural disaster or fire.
Practical Example
A popular restaurant has to close for two months due to a kitchen fire. Their business interruption insurance helps cover their lost revenue and continues to pay their employees' salaries during the closure.
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