General nature
What does Boiler and Machinery coverage cover?
Cost of repairing or replacing damaged equipment and business losses.
Safety inspections are a major part of what?
Premiums
What does business interruption cover?
Losses due to business interruption.
Name 2 exclusion
Leakage
Breakdown of any vacuum or tube, glass or brush
B&M forms only cover what kind of losses? Endorsements may be added to cover what kind of losses?
Direct losses to property
Indirect losses such as business income or extra expense coverage
The boiler and machinery form may be written as what type of policy?
Monoline policy - covers one specific type of risk
Commercial package policy - pick and choose
Suspension provision is used when?
A object is found to be in dangerous condition, insurer may suspend license
Business interruption can ALSO cover?
Expenses to reduce the amount of time the business is not operating.
Name 2 other exclusions
Breakdown of any computer or electronic data
Safety inspections are used to inspect what?
potential problems that could lead to losses.
Besides boilers and furnaces this coverage can also cover these 2 things in office buildings.
Elevators and office equipment
Expediting expenses extension is when?
Has a max of ?
Insurer agrees to make temporary repairs or EXPEDITE permanent repairs.
MAX 25,000
Extra expense provides?
Payments to keep the business open during the period of time it takes to restore the business to its full operation
Name 2 OTHERRR exclusions
Malfunctioning of any safety device
Breakdown of any structure of foundation
New property is automatically covered up to??