business interruption insurance News

Travel Businesses in California’s Big Sur Community Reeling After Bridge Closure

Almost all the hotels, restaurants and state parks cut off when a bridge on the Central California coast crumbled last month remain closed, but Kurt Mayer chose to keep his deli and taproom open — even though it’s costing him. …

Advising Businesses on Business Interruption Insurance

With the recent late-winter storms that have hit the Northeast, many businesses could have suffered a loss of revenue they were not anticipating. If a business owner was impacted by this latest storm, chances are his or her company was …

New York Businesses Advised to Check Insurance in Wake of Chelsea Terrorism Bombing

New York Governor Andrew Cuomo has identified the incident where a bomb went off from inside a dumpster in New York’s Chelsea neighborhood, injuring 29 people, as an act of terrorism. “I said yesterday I believed it was an act …

Marsh, Munich Re Launch Non-Damage Business Interruption Coverage for Life Sciences

Marsh and Munich Re have launched non-damage business interruption insurance (NDBI) product that combines risk transfer and consulting services to assist life sciences companies in managing the impact of regulatory actions imposed by the U.S. Food and Drug Administration (FDA). …

Marsh Launches Catastrophic Cyber Policy For Large Companies

Marsh, a global insurance broker, risk manager and a wholly owned subsidiary of Marsh & McLennan Cos., has launched a new cyber insurance policy that provides catastrophic protection for large companies seeking to better manage the growing threat of a …

California City’s Bid To Close Sriracha Plant Denied

A judge has refused to order an immediate halt to production of the internationally popular hot sauce Sriracha at a Southern California factory that local residents say is stinking up their neighborhoods with pepper and garlic fumes. In rejecting the …

I.I.I. on Business Insurance Lessons Learned From Sandy

The difficulty many businesses had reopening after Superstorm Sandy is a reminder of the importance of having a disaster recovery plan and the right type and amount of insurance, according to the Insurance Information Institute (I.I.I.). The I.I.I. notes that …

Is There Coverage for Losses Stemming From Government Shutdown or Default?

At the time of this writing, the federal government is in a partial shutdown. Essential functions are operating, but certain areas such as national parks are completely closed. While this partial shutdown does not threaten the validity of federal debt, …

Webinar: Lessons to be Learned from Colorado Flood, D.C. Shootings

Drawing off the massive flooding in Colorado and Naval shipyard shootings in Washington, D.C., the second in a series of webinars being put on for National Preparedness Month focused on unforeseen crises as examples of the need for organizations to …

Developers to Test for Fault Under Hollywood Skyscraper

The developers of a Hollywood skyscraper have agreed to dig a trench to determine whether an earthquake fault runs beneath the site slated for the project. The Los Angeles Times reported that New York-based Millennium Partners will dig at the …