business interruption News

Willis Towers Watson: Hurricane Harvey Could Upend Commercial Insurance Prices

Hurricane Harvey could upend a trend of nearly flat commercial insurance prices that has continued since 2015, Willis Towers Watson said in its latest industry survey. “Insurers are bracing for a significant volume of complex commercial property claims, as well …

Troubled California Gas Facility Has One Third of Wells Shut Down

The largest gas storage facility in the West halted using a third of the wells pumping methane underground at high pressure just weeks after it resumed operations following a blowout that crippled it for nearly two years. Southern California Gas …

Sweltering Las Vegas Heat Continues Delaying, Canceling Flights

The extreme heat this summer in Las Vegas has been causing a multitude of delays and cancellations at McCarran International Airport, including one airline that suspended service for the season and another that had to adjust its departure schedule. Airport …

Safety Concerns Keep Tulsa Business Owners Out of Tornado-Damaged Building

A Tulsa, Okla., building that suffered millions of dollars in damage when it was struck by a tornado recently is being assessed to determine whether it may collapse. The 20-story Remington Tower was damaged during a storm on Aug. 6. …

Texas Peach Crops Affected by Mild Winter

Experts say the mild Texas winter hampered this year’s peach crop in parts of the state. The North Texas harvest appears to be bountiful, but growers in some other areas of the state faced challenges, the Fort Worth Star-Telegram reported. …

Blizzards, Ice Storms Wreak Havoc In Midwest Plains

Travel conditions remained hazardous as a winter storm swept across much of the northern Great Plains, with blowing and drifting snow creating near-zero visibility on some roads. The combination of freezing rain, snow and high winds that forced the shutdown …

Climate Change Is Major Concern for 78% of SMEs: Zurich Report

Climate change is a major concern for small and medium-sized enterprises (SMEs), according to Zurich Insurance Group’s fourth annual global SME survey. Almost four-fifths (78 percent) of SMEs surveyed expected risks associated with climate change to have a significant effect …

New York Cyber Conference Panelists Stress Importance of Unified Cybersecurity Plan

As cyber attacks become a growing concern with advances in technology, firms should be working to establish a cybersecurity plan that is cohesive across business operations to effectively reduce damage and cyber insurance claims, according to panelists at the 2016 …

Business Interruption Tops List of Risks Facing Global Organizations: Survey

Business interruption, property damage and general liability are the top three risks faced by businesses, non-governmental organizations and governmental agencies operating outside the U.S., according to the Summer/Fall edition of “Clements Worldwide Risk Index.” In fact, business interruption and property …

XL Catlin Updates Active Assailant Cover to Include Use of Road Vehicles in Attack

XL Catlin announced it has updated the wording of its “Active Assailant” coverage to include the use of road vehicles in an attack. Stephen Ashwell, XL Catlin’s chief underwriting officer for Crisis Management, said: “The tragic events that took place …