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Loss of business issues. A business loss occurs when there is a physical loss of a property, an insured’s operations are suspended and a loss of income occurs due to the suspended operations. (Photo: Shutterstock)

Questions often arise with respect to business income coverage, particularly with respect to the waiting period, what constitutes a business income loss, and how the additional coverages apply.

Practically everyone understands an insurance deductible and how it applies. Take, for example, a property deductible. A building valued at $100,000 burns to the ground. Assuming it was insured to value, with a $500 deductible, the insured would receive a loss payment of $99,500. The $500 deductible is retained by the carrier as the insured’s portion of the loss.

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Karen Sorrell



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