10:30 AM - 12:30 PM
Business income (BI) is the most important property coverage available. Businesses exist to make money and without income, the business ceases to exist.
BI ensures there is a flow of income until the business is once again operational. During this session, attendees will learn the hardest lesson surrounding BI – how to complete the business income worksheet (CP 15 15).
This session provides you with:
- A description of three key BI concepts – business income, period of restoration, and the “time doctrine";
- A step-by-step tutorial for completing the Business Income Worksheet (CP 15 15);
- An explanation of the difference between “insurable" and “compensable" business income;
- A discussion about extended business income and how to insure the additional loss of income that occurs once the business reopens; and
- A few pointers about dependent property coverage.
Approved for 2 NJ CE Credits