What does BM mean? Read on to discover the definition & meaning of the term BM - to help you better understand the language used in insurance policies.
Boiler and machinery (BM) insurance is a policy that covers the damages resulting from the breakdown of equipment. It may cover the cost of repairing or replacing damaged equipment, property loss, lost business income, temporary replacement costs, other expenses aimed to mitigating operations slowdown, spoiled products or materials, and expenses for business recovery.
We hope the you have a better understanding of the meaning of BM.