Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
Insurance Industry Reacts to Gulf Coast Oil Spill
May 11 2010 // The blame game for the recent British Petroleum (BP) oil rig accident and subsequent oil spill is just getting started as are the insurance implications of this disastrous event, according to underwriters and other...
E&O Insights: Dangers of Renewing Business Interruption Coverage ‘As Is’
Apr 19 2010 // Understand Where Property Coverage Ends and BI Coverage Begins It would probably be rather difficult to find many agents unaware of business interruption coverage. Most recognize that for their business customers, business...
The Other Time Element Coverages
Apr 19 2010 // Off-Premises, Contingent Business Income and Other Time Element Options for Clients The impact of recent high-profile natural catastrophes has brought to the forefront the need for businesses to have appropriate time...
Massey Has No Business Interruption Insurance
Apr 19 2010 // Massey Energy Co. said it will increase coal production at its other mines to compensate for production lost at the West Virginia mine where 29 miners died in a blast. It expects to reopen the Upper Big Branch (UBB) mine...
Massey Has Insurance for Mine Blast But Not for Business Interruption
Apr 9 2010 // Massey Energy Co. said Friday it will increase coal production at its other mines to compensate for production lost at the West Virginia mine where at least 25 miners died in a blast this week. It expects to reopen the...
Buyer and Agent Beware
Sep 7 2009 // BOP’s Changes for the Better or Worse? Just when I really think I understand a coverage I am blind-sided by the reality of what is actually happening in the insurance industry. I remember the good old days when a...
Marsh Finds UK Firms lacking Knowledge of Overseas Risks
Jul 10 2009 // New research by Marsh has determined that “British organizations are more concerned during the recession by overseas risks affecting their supply chains and business rather than by threats closer to home.” In...
5 Business Owner Policy Gaps and Pitfalls Agents Should Watch Out For
Feb 8 2009 // Business owner policies, traditionally referred to simply as BOPs, were introduced in 1976 and significantly revised in 1987. The BOP evolved gradually since the 1987 revisions to include risk classification and sizes not...
Ratsma Joins Marsh Business Continuity, Disaster Recovery Team
Dec 17 2008 // Marsh’s London office announced that it has appointed Rod Ratsma as managing consultant in its UK Business Continuity Management (BCM) team. ” The bulletin notes that he is a “highly respected pioneer in...
Business Income And Dependent Property Coverage Rescues More Than Just Dairy Farmers
Oct 28 2008 // Eighty-eight dairy farmers in western Vermont and New York have taken a major economic hit from a Sept. 29 fire at the Saputo Cheese USA plant in Hinesburg, Vt. (about 12 miles southeast of Burlington). Ten to 12 percent...
NAS Expands Business Interruption Coverage
Aug 22 2008 // Encino, Calif.-based NAS Insurance Services has expanded its regulatory business interruption (RBI) insurance to include healthcare and medical risks — hospitals, long-term care and public health departments —...
Getting Down to Business
Jun 2 2008 // When does the business interruption restoration period begin? A typical business interruption policy limits the period of time for which an insured can recover to the so-called “restoration period.” The...
European Utility Companies May be Underinsured, Warns Marsh
May 9 2008 // The “Marsh Power Forum” in Paris this week identified potential insurance problems for the industry. Marsh noted that “the combination of rising demand and insured costs in Europe’s electricity...
Marsh’s ‘Business Continuity Management’ Survey Finds Firms ‘Over-optimistic’
Apr 1 2008 // A new survey from Marsh has determined that “many European firms are failing to overcome a ‘perception gap’ in their approach to business continuity management (BCM). Marsh’s latest research, The...
Alabama Business Owners Urged to Insure Before Disaster Hits
Mar 7 2008 // When the roaring 170 mph winds descended on Alabama’s Lawrence County on Feb. 6, Bobby Thurman’s first thought was not the financial strength of the poultry operation he manages for Smith Poultry. As flames...
Willis ‘CyPro’ to Cover Business Interruption, Costs from Data Loss
Feb 20 2008 // Willis Group Holdings has launched a new facility to cover business interruption and recovery costs stemming from malicious and accidental loss of data. Willis described its CyPro, as a “new suite of products,”...
Catastrophic Events Raise Business Interruption Coverage Questions
Dec 2 2007 // Considering the number of people who lived and worked in the area, the destruction of the World Trade Center complex was the functional equivalent of obliterating a small- to medium-sized city. Several recent and...
Catastrophic Events Raise Business Interruption Questions
Nov 18 2007 // Agents advised to discuss extended coverage provisions and contingent business interruption insurance Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005...
Catastrophic Events Raise BI Coverage Questions
Nov 18 2007 // Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005 and the Sept. 11, 2001, terrorist attacks — have raised awareness of how, and whether, business...
House-passed flood insurance bill provides optional windstorm coverage
Oct 8 2007 // The U.S. House of Representatives has passed a measure updating the nation’s flood insurance program that will give homeowners the option of purchasing windstorm coverage as part of their flood policy. The...
