Business interruption and contingent business interruption claims loom as a large issue following 'Superstorm' Sandy, as thousands of businesses of all sizes deal with flooding, physical damage, power outages, government orders and supply chain disruptions.
Finley T. Harckham, shareholder in the Insurance Recovery Group at law firm Anderson Kill & Olick, says he expects “huge battles” between business policyholders and insurers over whether interruption losses are covered.
“It all depends on the policy and triggers,” he tells PC360. “Much of the coverage is tied to physical damage—damage covered under your policy.”
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