Disaster Prevention: Hurricane Protection, here
you will find more information about Ensuring
Business Continuity during a hurricane.
Business interruption" coverage
- meant to help replace lost income - could be triggered
under a commercial policy.
Business interruption claims often lead to disputes
and take a long time to resolve - often because of
policy language on what triggers the coverage and
requirements for documentation of a loss.
This means if you don't prepare yourself your insurance will not cover you
Business claims from Katrina could be sizable because
unlike Florida, Louisiana is home to oil, gas and
chemical facilities, Standard & Poor's said in
a report yesterday.
$61 million in commercial claims. State Farm
Determining the amount and scope of business interruption
losses is an ... Flood insurance claims from
Katrina and Rita could exceed $22 billion
The Sept. 5 BestWeek also carried an article on
the issue of how the evacuation of New Orleans ordered
by civil authorities would affect business interruption
claims. It appears that the evacuation orders would
trigger such coverage if the orders hold for an extended
period. [later: Marc Mayerson, author of the Insurance
Scrawl blog, discusses business interruption claims
by those farther from the scene of the disaster.]