Business Income Loss Coverage Series

Chris Boggs, who writes for MyNewMarkets.com, recently finished an excellent series on business income coverage, ending with a BI insurance and risk management checklist for agents to use with clients. The 20-part series covers all aspects of business income insurance, from completion of the Business Income Worksheet (CP 15 15) through the correct choice of coinsurance and limits of coverage. Chris began his series with this premise:

Few insurance coverages elicit such fear or visceral reactions as does business income coverage (aka Time Element). Without being too glib, business income concepts are actually simple to understand and explain to the client; the problem is that the coverage has been shrouded in mystery and taught incorrectly by those that don't completely understand the coverage themselves.

Although the series is geared towards agents, if what you do requires an appreciation and understanding of BI coverage (business income, not bodily injury), I highly recommend that you review and bookmark Chris's articles.

The BI insurance and risk management checklist is here. The first article in the series, with an index of and links to all other articles, starts here.