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Chapter 4 — Loss Recoveries

4.6 Business Interruption Insurance

4.6 Business Interruption Insurance

ASC 220-30-20 defines business interruption insurance as “[i]nsurance that provides coverage if business operations are suspended due to the loss of use of property and equipment resulting from a covered cause of loss. Business interruption insurance coverage generally provides for reimbursement of certain costs and losses incurred during the reasonable period required to rebuild, repair, or replace damaged property.” ASC 220-30-05-02 describes the types of costs and losses that business interruption insurance covers.