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Here's how Business Interruption insurance is evolving

It has made inroads into specialty lines, while interest in contingent business income remains elevated in the wake of catastrophes disrupting supply chains.

By Michael P. Voelker | Updated on January 12, 2016

Over time, the scope of property coverage has expanded from the days of simple fire insurance to broad forms that insure against a wide range of perils and that not only protect physical property, but include Business Interruption (BI) and other “time element” coverages as well.

And as business owners have looked to specialty products such as Cyber and Environmental coverage to protect their property and operations from an even wider range of hazards, their interest in adding time-element coverage to those forms has also grown.

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