Fallen trees due to severe weather can cause significant property damage as well as major business interruption losses. Photo: Benjamin Clap/Adobe Stock
The National Conference of State Legislatures has defined price gouging as a situation "when retailers and others take advantage of spikes in demand by charging exorbitant prices for necessities, often after a natural disaster or other state of emergency." Fallen trees due to severe weather can cause significant property damage as well as major business interruption losses, as was clearly seen during recent hurricanes such as Irma, Michael, Ida and Ian.
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