Burglary:
Breaking and entering into another person's property with
felonious intent
Burglary
and Theft Insurance: Coverage against property losses due
to burglary, robbery, or larceny
Business
income exposure: lost profits resulting from damage to property
that halts the business
Business
interruption exposure: see Business income expos
Business
Insurance: A policy which primarily provides coverage of
benefits to a business as contrasted to an individual. It
is issued to indemnify a business for the loss of services
of a key employee or a partner who becomes disabled
Business
Interruption Insurance: Protection for a business owner
against losses resulting from a temporary shutdown because
of fire or other insured peril. The insurance provides reimbursement
for lost net profits and necessary continuing expenses
Business
Life Insurance: Life insurance purchased by a business enterprise
on the life of a member of the firm. It is often bought
by partnerships to protect the surviving partners against
loss caused by the death of a partner, or by a corporation
to reimburse it for loss caused by the death of a key employee
Buy-Sell
Agreement: An agreement made by the owners of a business
to purchase the share of a disabled or deceased owner. The
value of each owner's share of the business and the exact
terms of the buying-and-selling process are established
before death or the beginning of disability
