What does Business Income Worksheet mean? Read on to discover the definition & meaning of the term Business Income Worksheet - to help you better understand the language used in insurance policies.
Business Income Worksheet
A form used to estimate an organization's annual business income for the upcoming 12-month period, for purposes of selecting a business income limit of insurance. The selected percentage, or multiple, of the organization's estimated annual business income for the upcoming 12-month period should be based on how long it would take to replace all damaged property and resume operations in the event of a worst-case loss. For some organizations, this period could exceed 12 months. Most insurers require a completed business income worksheet as a condition of activating the business income agreed value coverage option.
We hope the you have a better understanding of the meaning of Business Income Worksheet.