Move over Snowmageddon and make way for the “bomb cyclone” which hit the East Coast January 4, 2018. While the official name of this winter storm is “Grayson”, the media focused on the phenomenon (bombogenesis) that increased Grayson’s wrath and fury, converting it from a run-of-the-mill Nor’easter into a “bomb cyclone.”
Friday, January 5, 2018
Tuesday, January 2, 2018
Pardon this interruption… Service Interruption Provisions and Hurricanes
As the urgency to repair immediate physical damage to commercial property subsides, and businesses begin to get back to business as normal in the wake of Hurricanes Harvey, Irma, and Maria, we will undoubtedly see claims to recover lost revenue, or extra expenses incurred as a result of the storm. These claims arise under a general claim for business interruption coverage.
Tuesday, December 12, 2017
Sometimes CAT Insurance is Fun!
We noted this article in today’s New York Times, spotlighting FM Global’s Rhode Island research lab.
Friday, December 8, 2017
The Weather Outside Will Be Frightful
Break out the snow shovels! Meteorologists predict above average snowfall in the Northeast this winter and especially bitter cold in the Northern states. According to forecasters, that shakes out to least 6 inches more snow than usual in the New York City and Boston areas and high totals in the Great Lakes areas in Pennsylvania, Ohio and upstate New York. The Southeast should be warmer than normal, but with a risk of tornadoes, forecasters say.
Tuesday, November 21, 2017
When a Business Entrance is Blocked: Ingress/Egress Coverage in the Wake of Hurricane Harvey and Irma
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.
Monday, November 20, 2017
Earthquake Experts Urge Acceleration of California Retrofitting Requirements
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
Claims Stemming from Government Regulated Flooding After Hurricane Harvey
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.
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