business interruption insurance News

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 …

Business Frets at Terrorism Tag of Marathon Attack

President Barack Obama’s declaration that the Boston Marathon bombings were an act of terrorism could make it difficult for many affected businesses to be reimbursed for losses resulting from the explosions. Federal law enacted after the 9/11 terrorist attacks requires …

Defining Terrorism for Policies Not a Simple Task After Boston Tragedy

There are a number of issues involved in determining whether the Boston bombings tragedy would be considered a terrorist act for insurance purposes such as determining the applicability of terrorism exclusions and terrorism coverage. The matter is not clear-cut and …

Small Biz Owners Were Hit Hard By Sandy Outages, The Hartford Finds

Among small business owners in New York, New Jersey and Connecticut who were impacted by Superstorm Sandy, some 71 percent of them experienced power outage after Sandy, which led to temporary disruptions in business operations in many cases, according to …

Strong Growth in U.S. Manufacturing Brings Supply Chain, Other Challenges: Travelers

Manufacturing in the United States is in a growth phase, according to a survey by Travelers Insurance that found nearly three out of four executives in the manufacturing sector have either expanded their products or services in the past year, …

Costs Rising in Minneapolis Water Main Break

Minneapolis, Minn., officials said they haven’t begun to tally the costs of a massive water main break that sent 14 million gallons of water gushing into downtown streets last week, submerging dozens of vehicles and forcing local businesses to shut …