When an insured disputes coverage or the amount of loss under an insurance policy, it frequently finds it necessary to hire a claims professional – a licensed public adjuster or other claim consultant, or an attorney for assistance.
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Ownership of Interdependent Business Does Not Necessarily Foreclose Coverage – Understanding Business Interruption Claims, Part 84
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Posted in Commercial Insurance Claims, Settlement
Contingent business coverage is a type of business interruption coverage intended to protect the “dependent business” from an external business income exposure. There are four (4) types of dependent business ISO endorsements:
- Contributing Premises, such as the businesses that deliver materials to the insured;
- Recipient Premises, such as the businesses that receive the insured’s products;
- Manufacturing Premises (businesses that make products for delivery to the insured), and
- Leader Premises, such as businesses that bring the customers to the insured.