What does Simplified Earnings Form mean? Read on to discover the definition & meaning of the term Simplified Earnings Form - to help you better understand the language used in insurance policies.
Simplified Earnings Form
A simplified earnings form, now called a Monthly Limit of Indemnity Form, is a policy that covers business interruptions caused by negative events, such as fire damage. It pays for losses that are incurred because business operations are involuntarily suspended or discontinued. The insured is paid an amount with a monthly limit while rebuilding their business.
We hope the you have a better understanding of the meaning of Simplified Earnings Form.