Insurance Coverage Law Report: Hurricane Season is Here - Is Your Insurance Program Ready for the Next Storm?

The challenges normally inherent in presenting business interruption and other economic claims were dramatically magnified with Sandy. A policy review before the next storm arrives will provide the opportunity to ensure that you understand the coverage you purchased before a loss occurs.

Last fall, Superstorm Sandy ripped across the East Coast, causing unprecedented damage to coastal and inland areas lying in its path. Making landfall near Atlantic City, N.J., the storm wreaked havoc from North Carolina to Connecticut, and as far inland as the Great Lakes. Sandy also caused tidal surges that inundated Lower Manhattan and flooded New York’s airports, knocked out critical infrastructure including power, rail, and subway systems, and destroyed tens of thousands of homes. The storm caused at least $50 billion in physical damage, while tens of thousands of businesses that suffered little or no physical damage nonetheless experienced catastrophic business interruption losses.

Download: Hurricane Season is Here - Is Your Insurance Program Ready for the Next Storm?