Extended period of indemnity endorsement or option

{
  "id": "MLC-T-INS-001427",
  "term": "Extended period of indemnity endorsement or option",
  "field": "Insurance and risk management",
  "definition": "An optional provision in a business income insurance policy that extends the period for which business income losses are covered beyond the time it takes to repair or replace damaged property. This extension accounts for the additional time needed to restore the business's operations to their pre-loss level of revenue. The extended period often ranges from 30 to 360 days after physical restoration is complete.",
  "url": "https://mlchart.com/terminology/insurance/extended-period-of-indemnity-endorsement-or-option/"
}