Identify the two things that all business interruption insure
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1. The operating expenses which necessarily must continue during the
period the interruption
2. The net profit that is lost because of a partial or total interruption to the
business
Briefly explain why business interruption insurance should not only be carried by
profitable business
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, Businesses in a net loss will also incur continuing expenses which have to
be paid
Identify the five steps included in calculating the insurance definition of gross
earnings
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Net sales and other earnings derived from operation of the business
Less the cost of
Merchandise sold, including packaging materials, therefore materials and
supplies consumed directly in supplying the services sold by the insured
and services purchased from outsides from resale which do not continue
under contract
Identify the three factors to be considered when selecting a limit of insurance under
the rent or rental value endorsement form
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1. Actual annual rents
2. Estimated annual rental value of unoccupied portions
3. Fair rental value of portions of building occupied by the insured
Identify three myths with business interruption insurance
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1. The operating expenses which necessarily must continue during the
period the interruption
2. The net profit that is lost because of a partial or total interruption to the
business
Briefly explain why business interruption insurance should not only be carried by
profitable business
Give this one a try later!
, Businesses in a net loss will also incur continuing expenses which have to
be paid
Identify the five steps included in calculating the insurance definition of gross
earnings
Give this one a try later!
Net sales and other earnings derived from operation of the business
Less the cost of
Merchandise sold, including packaging materials, therefore materials and
supplies consumed directly in supplying the services sold by the insured
and services purchased from outsides from resale which do not continue
under contract
Identify the three factors to be considered when selecting a limit of insurance under
the rent or rental value endorsement form
Give this one a try later!
1. Actual annual rents
2. Estimated annual rental value of unoccupied portions
3. Fair rental value of portions of building occupied by the insured
Identify three myths with business interruption insurance
Give this one a try later!
