business interruption insurance
- noun
- /ˈbɪznəs ˌɪntərˈʌpʃən ɪnˈʃʊərəns/
- Specialized
:
seguro de interrupción de negocios
- Many retailers rely on business interruption insurance to cover expenses when their shops are temporarily closed due to unforeseen events.
Examples
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Business interruption insurance will only partially offset the hit on these companies' operating earnings, and uninsured small businesses and personal sectors will be particularly badly hit.
Blog text (28) -
The National Association of Insurance Commissioners reported that just 35 percent of small companies had business interruption insurance in 2007.
Blog text (1) -
The owners probably had some business interruption insurance, but the employees were SOL immediately.
Blog text (26) -
Amerco carries liability insurance and business interruption insurance.
Blog text (7) -
After the fire destroyed their office, the company was grateful they had business interruption insurance to help them recover lost income.
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Without business interruption insurance, a sudden disaster could severely impact a company's financial stability.
How Protective
- Specialized
- Specialized
- Specialized
6
3.7
- Specialized
1
7.5
Surface Forms
Morphology
business + interruption + insurance
The meaning is directly compositional: 'business' (commercial activity) + 'interruption' (a pause or break) + 'insurance' (compensation for specified losses) yields insurance that compensates for pauses in business operations. While the exact technical boundaries of the policy are specialist, the basic idea is transparent and readily inferable by a B1 learner who knows the constituent words.
Etymology
Business interruption insurance is a very literal name: imagine a business that has to stop working — the interruption — because of a fire or flood, while rent and wages still need to be paid. The insurance pays money to cover the 'lost income' and 'ongoing bills' until the business can open again.