Business Interruption
Business interruption insurance is an insurance coverage is usually sold along with property insurance and reimburses income lost if business is halted due to direct physical loss or damage, Such as one caused by a fire or a natural disaster.
This type of insurance also covers operating expenses, a move to a temporary location if necessary, payroll, taxes, and loan payments.
In rare cases, business interruption insurance can apply if a civil authority shuts down a business due to physical damage to a nearby business, resulting in loss to the firm.
Standard business interruption insurance does not reimburse policy holders if the business is closed due to a pandemic.