The term “Extra Expense” is often misused in the context of aCommercial Property claim.
More importantly, Extra Expense is often improperly estimatedand accounted for when placing coverage. A complete understandingof Extra Expense may eliminate unnecessary premiums. Conversely, athorough understanding of Extra Expense coverage may allow coveragegaps to be filled that you didn’t realize existed.
Extra Expense is synonymously mistaken for “expense to reduce”coverage. These terms are not the same. In fact, “expenseto reduce” is not really a separate coverage.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
