Tax interruption coverage

{
  "id": "MLC-T-INS-003283",
  "term": "Tax interruption coverage",
  "field": "Insurance and risk management",
  "definition": "Property coverage for public entities such as cities and counties that reimburses lost tax revenue when physical damage from a covered peril to taxable property in the jurisdiction reduces the taxes collected. Pooled municipal property programs state the limit as a percentage of annual tax revenue per location, with 2.5 percent seen in published programs. It protects a government's revenue, not a business's ability to remit taxes.",
  "url": "https://mlchart.com/terminology/insurance/tax-interruption-coverage/"
}