Contingent Business Interruption Insurance
/kənˈtɪn.dʒənt ˈbɪz.nɪs ˌɪn.təˈrʌp.ʃən ɪnˈʃʊə.rəns/
Definitions
- (n.) Insurance covering loss of income when a business suffers interruption due to damage at a supplier's or customer's premises, not at the insured's own property.
The company claimed damages under its contingent business interruption insurance after a supplier’s factory fire halted production.
Forms
- contingent business interruption insurance
Related terms
See also
Commentary
This coverage is distinct from standard business interruption insurance by focusing on interruptions caused by third-party locations; precise policy wording is crucial to define covered perils and affected sites.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.