Many businesses throughout the United States—and possibly
worldwide—may experience the effects of the devastating
hurricane that hit the Eastern United States on October 29 and 30,
2012. Early estimation indicates that the storm caused
upwards of $20 billion in property damage and another $10 billion
to $30 billion in lost business. Numerous national and local
businesses, ranging from telecommunications to financial
industries, reported an interruption in their business operations
due to Hurricane Sandy.
If your business suffered physical damage to tangible property,
your property policies should indemnify you for that loss.
Even greater than any such property loss, however, may be the loss
of income that your business may experience. If your business
does, in fact, experience a loss of income due to the hurricane,
the business interruption, contingent business interruption or
extra expense provisions of your property policy may reimburse you
for such losses.
