Valued business interruption coverage

{
  "id": "MLC-T-INS-003462",
  "term": "Valued business interruption coverage",
  "field": "Insurance and risk management",
  "definition": "A form of business income insurance that pays a predetermined, fixed amount for each day of interruption, regardless of the actual financial loss incurred. This amount is agreed upon by the insurer and the policyholder when the policy is written, based on the business's projected earnings. Unlike standard business income coverage, this form does not require the policyholder to produce detailed accounting records to document the exact amount of the loss.",
  "url": "https://mlchart.com/terminology/insurance/valued-business-interruption-coverage/"
}