If a storm or hurricane hits Biloxi, Miss., and closes area casinos, the city will have all bets covered. The city, which obtains $20 million a year or about one-third of its annual operating revenue by taxing nine casinos, has decided to buy business interruption insurance. The Biloxi City Council unanimously approved the purchase, which will cost about $100,000 a year.
The proposal to buy insurance was proposed by Mayor A.J. Holloway, who pointed out that income from the nine casinos operating in the city provide a third of its annual operating revenue.
Was this article valuable?
Here are more articles you may enjoy.
Experian Launches Insurance Marketplace App on ChatGPT 
Judge Awards Applied Systems Preliminary Injunction Against Comulate 
Fingerprints, Background Checks for Florida Insurance Execs, Directors, Stockholders? 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation From This Issue
