Contingent business interruption (“CBI”) insurance provides coverage to an insured when a supplier or a key customer suffers a direct physical loss that interrupts the insured's own business (e.g., revenue stream).
Contingent Business Interruption Coverage
CBI insurance is becoming a more prevalent component of property coverage as a result of converging economic and world events. Risk managers are increasingly becoming sensitive to the fact that world events such as terrorism or riots, regional incidents such as power blackouts or hurricanes, or local occurrences such as strikes, fires, floods, or explosions can have far-reaching effects on their company even if supply chain risk solutions, crisis management, or business contingency plans are in place.
By
William P. Shelley, Lawrence Bowman, Kendall Hayden And Samantha EvansThis premium content is locked for LawJournalNewsletters subscribers only
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