The tragic events in Japan serve as a reminder of how fragile
our lives and societies are. Businesses too can be fragile, and can
be easily disrupted by events completely outside of our control.
That's one of the rationales behind commercial insurance.
A little over a year ago, I wrote about the complexities and
challenges of both purchasing, and making a claim on, business
interruption insurance. (
Business Interruption Coverage - 2/18/10 ) Because many US
companies will be either directly or indirectly affected by the
devastation in Japan, this is a good time to revisit that
topic.
US businesses that have operations in the affected area and who
suffer a loss of income because their facility was damaged may be
able to make a time-element / business interruption claim. Check
your policy, and if there is any doubt, ask your coverage counsel
to review the policy as well. As noted in my earlier article,
business interruption claims are complicated at the best of
