[U052]

use and occupancy

A term used to describe some time element coverages which pay for loss of earnings when business operations are curtailed or suspended due to property loss as a result of an insured cause of loss. This coverage is now obsolete and has been replaced by a more comprehensive and generic business income insurance.

(See Time Element Insurance, and Business Income Insurance.)

Copyright: The Rough Notes Company, Inc., 1998, All Rights Reserved. 3040100