Time element insurance

{
  "id": "MLC-T-INS-003333",
  "term": "Time element insurance",
  "field": "Insurance and risk management",
  "definition": "Coverage that protects against financial losses resulting from the interruption of business operations due to a covered peril. This type of insurance pays for lost income, continuing expenses, and extra expenses incurred during the period of restoration. Business interruption insurance and contingent business interruption insurance are common forms of time element coverage.",
  "url": "https://mlchart.com/terminology/insurance/time-element-insurance/"
}