Insurance Coverage for Businesses Outside Gulf Coast
According to Insurance Scawl, a blog focusing “on the law of insurance, the insurance of business, and the business of insurance,” businesses located outside the Gulf Coast may still be able to file insurance claims for losses caused by Hurricane Katrina:
An increasingly common add-on to coverage in recent years has been "contingent" business-interruption coverage (or contingent business-income coverage). These policies are limited in what types of event trigger coverage; typically, only those hazards that are insured against with respect to the insured’s own assets qualify as covered events when they befall the insured’s supplier or the insured’s customer.
Blogger Marc Mayerson outlines a few steps businesses should take now if they want to take advantage of this type of coverage in the future.
Technorati Tags: business+insurance, business+interruption, katrina, recovery2
