Secondary dependent properties

Term · Insurance and risk management · MLC-T-INS-003033

Businesses one step removed from the insured in its supply chain, such as a supplier to the insured's own key supplier or a customer of its key customer, whose operations the insured's revenue depends on only indirectly. Standard dependent property forms respond to direct suppliers and customers, so coverage for these locations needs an added endorsement. Physical damage at such a location can then trigger a business income loss for the insured.

Table 1. Record
Identifier	MLC-T-INS-003033
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-003033",
  "term": "Secondary dependent properties",
  "field": "Insurance and risk management",
  "definition": "Businesses one step removed from the insured in its supply chain, such as a supplier to the insured's own key supplier or a customer of its key customer, whose operations the insured's revenue depends on only indirectly. Standard dependent property forms respond to direct suppliers and customers, so coverage for these locations needs an added endorsement. Physical damage at such a location can then trigger a business income loss for the insured.",
  "url": "https://mlchart.com/terminology/insurance/secondary-dependent-properties/"
}

Record 3,076 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.