Superstorm sandy’s recent strike hit the most densely populated area of the country, causing loss of life, destruction and dislocation on a massive scale. Recovery efforts are still ongoing, and the storm’s economic impact will be felt by businesses and individuals across the country for some time.
Many businesses have suffered direct damage to property and lost income due to the resulting interruption of their operations, while others may face Environmental Contamination claims stemming from Sandy. For those businesses facing potential liability from such claims, Liability insurance may be an important asset to help offset defense costs and remediation payments.
Early reports have identified several environmental incidents, including: 277,000 gallons of diesel fuel spilled from storage tanks damaged by Sandy at the Sewaren Terminal along the Arthur Kill tidal strait between Staten Island and New Jersey; another 7,700 gallons of fuel spilled from a refinery in Linden, N.J.; and some 238 barrels (some 10,000 gallons) of biodiesel spilled from a Carteret, N.J. terminal after Sandy devastated the East Coast.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
