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In Reply to: Re: Re: Re: THINK ABOUT THIS posted by Keith on May 29, 2003 at 10:30:02:
Further--most BI coverage is NOT written on an agreed amount per day of coverage, but for an annual limit (which is less expensive).
Mr. Expert--let us know how you would determine a BI loss under those circumstances. What two figures of the P&L statement should be added together to determine how much was lost.
Also--is it possible to have a BI loss, even if the business is losing money before the date of loss?
You won't answer, just launch into more personal attacks. YOu don't know the answers.
: Wrong again Kenny. You have no concept of the subject and no knowledge, so stop embarassing yourself.
: In order for BI coverage to kick in, there must be a COVERED CAUSE OF LOSS. MOST (CP1030, CP1010 for two) policies do NOT consider interruption of utility service to be a covered cause of loss.
: No covered cause of loss, no coverage. And you really used to sell P&C to people. Hope you had GOOD E&O coverage, because you had no idea what you were selling.
: Go back under your rock.
: : : Ken,
: : : Wrong board for that. Nobody cares.
: : : As if anybody would take advice from a fool anyway.
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: : "BOZO".................
: : You posting is erroneous and misinforming again.
: : This board's intent is for people to vent who have reason to believe they have been abused by insurance companies and insurance agents.
: : Since you have demonstrated time and time again through your posting on different message boards on the Internet that you have no businessman's prowess what so ever, it would be justified for just about everyone to assume that is the reason you are uninformed and also a low income earner.
: : One of your obvious inherent problems is that you attempt to speak for everyone and not just for yourself as you have also demonstrated by posting, "no one is interested".
: : In fact, unlike your pseudo e-mail addresses that you post under, my e-mail bag stays quite busy and this morning I received three e-mail messages inquiring if there is some kind of insurance policy that would cover such a loss.
: : Being that you have demonstrated that your general knowledge of insurance and financial matters is very limited as you have previously demonstrated in all of your previous postings to the Internet, it is obvious that you do not know the correct answer to the question I posed on my message that you are responding to.
: : Now copy this answer down and add it to your Ken Young file so you can use it and take credit for knowing the answer to a insurance question as you have previously done over and over again on the Internet.
: : Yes, there is an insurance policy that would have covered the loss incurred by the car wash owner. The type of policy is known as "BUSINESS INTERRUPTION INSURANCE".
: : The policy provides the owner of a business a fixed amount of income if in the even his business is interrupted by an act such as the City repairing a road infront of his business prohibiting entry to his location, a fire, water damage and so on and so on.
: : Because you have demonstrated on Internet message boards over and over again you have no basic knowledge of of conducting business lacking a business mind and only a small limited amount of knowledge about insurance and financial matters, it is obvious that you will never have a need for a "BUSINESS INTERRUPTION" policy.
: : Now that I have picked you up and chewed you again for attempting to bash me on this board again WAFI, I can spit you out for fodder once more 64.216.218.36.
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