Hurricane Ian Shoreline Loss: Four Policies, Oh Joy!
October 19, 2023
Generally, business interruption insurance is designed to compensate an insured for its actual business interruption losses resulting directly from physical damage by a peril insured against to the insured’s covered property. Business interruption insurance is tied directly to a first-party property policy’s coverage for physical damage to the insured’s property. It is not standalone coverage and its purpose is not to compensate the insured for any and all negative effects on its business that may result from a covered peril.
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