Business Glossary
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Business Definition for: covered expenses
covered expenses
- in health insurance, reimbursement for an insured's medically related expenses, including room and board, surgery, medicines, anesthetics, ambulance service to and from a hospital, operating room expenses, X-ray, and fluoroscope.
- in business interruption insurance, reimbursement of an insured for loss if a business cannot operate, including payroll expense and taxes.
- in extra expense insurance, reimbursement of an insured for extra expenditures made to keep a business operating even under emergency conditions.
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