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Co., 82 AD2d 398, 400 [1st Dept 1981] ["The purpose of business interruption insurance is to indemnify the insured against losses arising from inability to continue normal business operation and functions due to the damage sustained as a result of the hazard insured against"], affd 56 3-36 Bender3-36 Bender's New York Insurance Law § 36.06).
The Bi-Economy opinion seems fundamentally to misunderstand the purpose of business interruption insurance — which is to compensate the insured for a business interruption that has already occurred, not to prevent one from occurring (see Bi-Economy majority op at 8-9).
They have 12 months of business interruption insurance.
But business interruption insurance will not help those who lost sales because of the power failure, Mr. Hartwig said.
This error seems unimportant, however, for the majority's discussion of business interruption insurance is apparently extraneous to its holding.
I'm getting business interruption insurance tomorrow, believe me, and maybe we get a different cloud provider as a backup".
Similar(16)
Mr. Tice said the company has business-interruption insurance, "but we haven't stopped operating, so that hasn't been an issue".
While the National Theatre has business-interruption insurance, it is not yet certain this particular event will be covered, since the precise cause is still to be determined.
All small businesses should consider business-interruption insurance to cover their lost income during the time they are shut down, Ms. Childs said.
Ms. Waters hopes to open the cafe quickly, thanks in part to business-interruption insurance her father insisted on buying for the restaurant in 1981.
"The critical piece that was missing was business-interruption insurance," said Ms. Melchionda, who had property and liability insurance but had never got around to adding a policy that replaces income lost after accidents.
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