Commercial Insurance

Commercial Insurance
Business property, liability, interruption, and specialty coverage terms.
Blanket Insurance
One commercial property limit that applies across multiple locations or categories.
Business Income
Income and continuing expenses measured after a covered interruption loss.
Business Interruption
Coverage for lost income after an insured property loss disrupts operations.
Business Personal Property
Commercial property wording for movable business assets, not the building.
Civil Authority Coverage
Business-interruption or extra-expense coverage when authorities block access.
Claims-Made Coverage
Liability coverage triggered by when a claim is first made and reported.
Commercial Property
Coverage for business buildings, stock, equipment, and other physical assets.
Contingent Business Interruption
Income-loss coverage tied to damage at a supplier, customer, or other outside property.
Dependent-Property Coverage
Interruption coverage tied to key outside premises the insured depends on.
Extra Expense
Necessary extra costs incurred to reduce interruption after a covered loss.
Loss Payee
Party named to receive claim payment for insured property.
Occurrence Basis
Occurrence-basis liability coverage in Canada: how response is tied to when injury or damage occurred.
Prior Acts Coverage
Claims-made coverage that can include work done before the current policy period.
Restoration Period
Defined recovery window used to measure business-interruption losses.
Retroactive Date
Retroactive date in Canadian claims-made liability coverage: how it limits how far back the policy reaches.
Statement of Values
Declared property values used for underwriting and limit adequacy.