Only if the property owner had also purchased excess flood or a specific flood-related business income and loss of rents policy will coverage be found.
What does LOR stand for?
LOR stands for Loss of Rents (Commercial Property Insurance)
This definition appears rarely and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of LOR
We have 52 other meanings of LOR in our Acronym Attic
- Lock-Out Relay (electric power)
- Log Odds Ratio
- Logical Operator Replacement
- London Oil Reports (petrochemical industry; UK)
- Lone Oak Ranch (Texas)
- Loral Space and Communications Company (stock symbol)
- Lord of the Rings (J.R.R. Tolkien)
- Lorton (Amtrak station code; Lorton, VA)
- Loss of Redundancy
Samples in periodicals archive:
Parkway also maintains business interruption insurance that reimburses the Company for the loss of rents should the buildings be out of service for an extended period of time.
They lose months and months of rents, and while the owners are willing to rent to these individuals, the loss of rents is a major impediment and contributes to the reasons many of these people can't get into housing.
Extended Period of Indemnity: For loss of rents insurance - continuing the rental income coverage for some period of time after repairs have been completed but before you've found a new tenant.
The borrower is currently waiting on funds from insurance that will serve as compensation for loss of rents.
Specialized needs are met with coverages such as Master Key coverage, expanded Directors and Officers liability coverage (condominium) and Loss of Rents coverage (apartments).