MLchartDataset catalogue

Consequential loss

Term · Insurance and risk management · MLC-T-INS-000906

An indirect financial loss that occurs as a result of a direct physical loss or damage to insured property. This type of loss is not the immediate damage itself but rather the economic impact stemming from it, such as loss of income, extra expenses, or loss of market. Business interruption insurance is designed to cover consequential losses.

Table 1. Record
IdentifierMLC-T-INS-000906
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000906",
  "term": "Consequential loss",
  "field": "Insurance and risk management",
  "definition": "An indirect financial loss that occurs as a result of a direct physical loss or damage to insured property. This type of loss is not the immediate damage itself but rather the economic impact stemming from it, such as loss of income, extra expenses, or loss of market. Business interruption insurance is designed to cover consequential losses.",
  "url": "https://mlchart.com/terminology/insurance/consequential-loss/"
}

Record 704 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.