BUSINESS INTERRUPTION

Posted on July 20, 2013July 20, 2013

Insurance against business expenses and loss of income resulting from fire or other Insured Peril.

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LOSS OF SPECIE

Occurs where the insured property is so damaged that it ceases to be a thing of the kind insured; that is, it changes its specie. An example would be bags of cement which have been immersed in water.