Insurance coverage that pays for financial losses when business operations are interrupted, restricted, or suspended because of the loss of, or damage to, the policyholder's or third-party's property.

The covered loss is the loss of the policyholder's income over time attributable to the damaged property's effect on the policyholder's daily business operations, not the actual damage to the property itself.

Examples of time element insurance coverage include:

For more information on Time Element Insurance Coverage, see Practice Note, First-Party Property Insurance Policies.