A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Business coalition

Organization of several employers with a purpose of monitoring and communicating information on health care issues that affect employees. These employers form a cooperative to manage the benefits and expenditures and purchase group health care insurance coverage at a discounted price for their employees.
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A Group that has made statistical analyses and other efforts to control health care costs through combining businesses in a city or region to enhance medical care purchasing power and identify low cost providers.

Business Continuity Management (BCM)

BCM is concerned with anticipating threats to business survival and the achievement of objectives. It means conducting a business impact analysis to identify the key processes and functions within and beyond organisational boundaries that are essential for continuity. A business continuity plan (BCP) sets out the recovery strategies, priorities and actions that will be needed if a crisis occurs. A crisis could arise from a pure risk such as fire, or loss of a major customer or supplier. BCM reduces the likelihood of a disaster and minimis

Business continuity plan (BCP)

A written document summarizing steps to take in the event of a disaster—manmade or natural—assessing the business’s ability to recover from the loss event and subsequent business interruption. It is a hedging tool against the impact of a disruption on an organization. It typically includes estimated recoveries for loss of business income due to damage to
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A written document summarizing steps to take in the event of a disaster—manmade or natural—assessing the business&#8217s ability to recover from the loss event and subsequent business interruption. It is a hedging tool against the impact of a disruption on an organization. It typically includes estimated recoveries for loss of business income due to damage to the business&#8217s own locations, key suppliers/customers, adjacent buildings, key objects (such as bridges, highways), and utility interruptions. The BCP outlines the decision-making framework and advanced arrangements and procedures that enable an organization to maintain an acceptable level of operations in the event of a disruption.

Business income coverage

US: Commercial property insurance covering loss of income suffered by a business when damage to its premises by a covered cause of loss causes a slowdown or suspension of its operations. Coverage applies to loss suffered during the time required to repair or replace the damaged property. It may also be extended to apply to loss suffered after completion of repairs for a specified number of days. There are two Insurance Services Office, Inc. (ISO), business income coverage forms
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Insurance protecting the income derived from an insured’s business activities when curtailed by a covered peril. Coverage is often combined with extra expense insurance, which provides coverage for reasonable extra expense the insured undertakes to expedite return to business operations.
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Insurance protection the income derived from an insured’s business activities when curtailed peril. Coverage includes reasonable extra the insured undertakes to expedite return to business operations.