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In the first decade of the 21st century, the Insurance Services Office, Inc. changed the name of the old business interruption policies. The new names for the forms are business income and extra expense coverage, or business income (excluding extra expense) coverage.

Rental value coverage is an optional aspect of the forms, which come with a variety of options including agreed value, monthly indemnity limit, and so on. Some are subject to coinsurance, while others are not. The modern property adjuster must be an accountant as well as a fireman, investigator, reporter, and construction engineer in order to fully understand all of the specifications involved.

The renamed forms quickly became familiar when the BP oil spill occurred. It has been nearly a year since the BP Deepwater Horizon rig exploded and dumped millions of gallons of oil into the Gulf of Mexico. That catastrophe caused a major direct loss to BP and its oil-drilling partners, but it was the indirect loss to the fishing and tourist industry that got most of the headlines; those costs may well have exceeded the costs of direct loss.

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