Gross earnings coverage

Term · Insurance and risk management · MLC-T-INS-001663

A form of business interruption insurance that compensates a business for the reduction in its gross earnings following direct physical loss or damage from a covered peril. The policy covers lost net profit before taxes and continuing normal operating expenses, including ordinary payroll. Coverage continues until the property can be restored with reasonable speed, but it does not extend to cover the time needed to regain the pre-loss level of sales, a feature of extended period of indemnity endorsements.

Table 1. Record
Identifier	MLC-T-INS-001663
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-001663",
  "term": "Gross earnings coverage",
  "field": "Insurance and risk management",
  "definition": "A form of business interruption insurance that compensates a business for the reduction in its gross earnings following direct physical loss or damage from a covered peril. The policy covers lost net profit before taxes and continuing normal operating expenses, including ordinary payroll. Coverage continues until the property can be restored with reasonable speed, but it does not extend to cover the time needed to regain the pre-loss level of sales, a feature of extended period of indemnity endorsements.",
  "url": "https://mlchart.com/terminology/insurance/gross-earnings-coverage/"
}

Record 1,580 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.