As businesses and insurers recover from the devastation of Hurricane Harvey and Hurricane Irma, it may take time to fully assess the effects of these storms on a business’s bottom line. Invariably, however, the scale of these natural disasters likely provides some immediate impact on insureds’ businesses – the ability to access the premises may be barred or impacted.
Tuesday, November 21, 2017
Monday, November 20, 2017
On September 19, 1985, more than 5,000 people in and around Mexico City lost their lives when the 8.0 magnitude Michoacán earthquake collapsed 412 buildings and seriously damaged several thousand more. Many of the buildings that collapsed were older structures built of unreinforced masonry. But newer multi-story buildings built of reinforced concrete actually fared the worst.
Thursday, November 2, 2017
In August, Hurricane Harvey directly hit the city of Houston, leaving substantial wind and flood damage in its wake. Many home and business owners who avoided flood damage breathed a sigh of relief on August 28 when the immediate threat of flooding seemed to have passed. But for those Houstonians along the Buffalo Bayou, the worst of the damage was yet to come. In order to avoid flooding downtown Houston, the U.S. Army Corps of Engineers ordered “controlled releases” of both the Addicks and Barker Dams, thereby alternatively flooding thousands of homes and businesses that would have otherwise been spared. Now the owners of those homes and businesses are looking for a way to recoup their damages.