Business Interruption Loss definition

Business Interruption Loss means reduction in gross or net earnings resulting from interruption of or interference with the Assured’s business, including loss of production income and loss of throughput revenue.

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Business Interruption Loss means the total of:

Business Interruption Loss means the loss of Earnings, but not exceeding the actual reduction in Earnings, less charges and expenses which do not necessarily continue during the interruption of business, resulting from necessary interruption of business caused directly and solely by an Insured Event.

Examples of Business Interruption Loss in a sentence

Loss will apply after the Waiting Period has elapsed and the Underwriters will then indemnify the Named Insured for all Business Interruption Loss and Dependent Business Loss sustained during the Period of Restoration in excess of the Retention.
With respect to Data Recovery Costs, Business Interruption Loss and Dependent Business Loss the Named Insured must notify the Underwriters through the contacts for Notice of Claim, Loss or Circumstance in the Declarations as soon as practicable after discovery of the circumstance, incident or event giving rise to such loss.
To indemnify the Insured Organisation for: Business Interruption Loss that the Insured Organisation sustains as a result of a Security Breach or System Failure that the Insured first discovers during the Policy Period.
Coverage for Business Interruption Loss will apply after the Waiting Period has elapsed and the Insurer will then indemnify the Named Insured for all Business Interruption Loss sustained during the Period of Restoration in excess of the Retention.
The Named Insured will provide the Underwriters a proof of Data Recovery Costs, Business Interruption Loss and Dependent Business Loss, and this Policy will cover the reasonable and necessary costs, not to exceed GBP 50,000, that the Named Insured incurs to contract with a third party to prepare such proof.

More Definitions of Business Interruption Loss

Business Interruption Loss means: 1. reasonable and necessary expenses that are incurred by the Insured during the Period of Restoration to investigate the cause of the Business Interruption Event and to minimize, reduce, or avoid loss due to the Business Interruption Event; 2. net profit or loss before interest and tax that the Insured would have earned or incurred during the Period of Restoration, but for a Business Interruption Event; 3. normal operating expenses that must continue and are necessarily incurred by the Insured (including payroll) during the Period of Restoration; and 4. costs for an external forensic accountant to assist with the Insured's preparation of the Proof of Loss.

Business Interruption Loss means the sum of Business Income Loss and Extra Expense directly resulting from a Computer System Disruption. The Business Interruption Loss will be calculated based on the actual Business Interruption Loss the Insured Organization sustains per hour during the Business Interruption Period of Restoration. 1. contractual penalties of any nature; 2. costs or expenses incurred to update, restore, replace, or otherwise improve a Computer System to a level of functionality beyond that which existed prior to the loss event; 3. costs or expenses incurred to identify or remediate computer system errors or vulnerabilities; 4. any other consequential loss or damage; 5. legal cost or legal expense of any nature; 6. loss arising out of liability to any person or entity that is not an Insured; or 7. bank interest or investment income.

Business Interruption Loss means the actual “income loss” sustained, and “forensic expenses” and “extra expense” incurred, during the “period of restoration”.

Business Interruption Loss means Income Loss, Forensic Expenses, and Extra Expense that were sustained during the Period of Restoration due to the actual interruption of the Fund Member’s business operations caused by a Security Breach or System Failure. Coverage for Business Interruption Loss will apply only after the Waiting Period has elapsed. Business Interruption Loss, however, will not include loss arising out of liability to any third party, legal costs or legal expenses, a loss incurred as a result of unfavorable business conditions, loss of market or any other consequential loss, Dependent Business Loss, or Data Recovery Costs.

Business Interruption Loss means the loss of “business income” and incurred necessary “extra expense” directly resulting from an “interruption in services”.

Business Interruption Loss means the below listed costs incurred during the Period of Recovery:

Business Interruption Loss means the actual income loss and expense incurred during restoration, and shall not include loss arising out of liability to a third party, legal expenses, or loss resulting from unfavorable business conditions.