business interruption insurance News

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 …

After Sandy, Lower Manhattan Limps Back to Life

The hum of massive mobile generators, boilers and pumps emerges blocks from Manhattan’s Financial District and turns into a steady din south of Wall Street — the now-familiar sound of an area laboring to recover from Superstorm Sandy. Other parts …

Attorneys Discuss Possible Triggers for Business Interruption Coverage

Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass transit system, New York’s financial services sector and …

Q&A With Attorneys on Emerging Business Insurance Topics

As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance attorneys from international law firm Edwards Wildman Palmer LLP, …

Big Business Interruption Losses Looming After Sandy

As the insurance industry makes assessments for superstorm Sandy’s impact, analysts say there is now the potential for significant business interruption (BI) and contingent business interruption (CBI) losses. Fitch Ratings said that while many lines of insurance will be affected …

Isaac Seepage Closes New Orleans Museum of Art

The New Orleans Museum of Art says it is closed because water from soil saturated by Hurricane Isaac is seeping into the basement, administrative offices and other areas. Seepage into the basement of the century-old building was a major hurdle …

Wildfires: Sage Grouse Habitat Loss Could Impact Nevada Insureds

If you’re a business in Nevada, it may not be immediately clear why you should be concered with the state’s nearly dozen wildfires that are consuming almost 600,000 acres and destroying sage grouse habitat. But the fires, which have so …

Idaho Biologists File Lawsuit After Copter Crash

Two biologists with the Idaho Department of Fish and Game injured in a helicopter crash while attempting to dart elk, moose and wolves for a study have filed lawsuits against the pilot and others. The lawsuit seeks damages that include …