Last March 2011, the earthquake and ensuing tsunami caused devastation to Japan. Homes and businesses were destroyed and the economic impact was felt globally. Even large shipments of vehicles were dumped into the ocean. The business losses to Japan based companies reached into the hundreds of millions.

Continue Reading Japan’s Earthquake More than a Year Later May Give Rise to West Coast Insurance Claims

Contingent Business Interruption coverage is usually an extension of the business interruption coverage available in most commercial property policies. It provides the insured with benefits to cover lost profits and extra expenses resulting from damage to a third party’s property.  In today’s integrated business world, most businesses are highly dependant upon others for product, sales, and even customers.  As businesses globalize, they become vulnerable to disasters across the globe.  Even now, many businesses are waiting to realize the extent of the contingent business loss that will result from the tsunami and nuclear disasters in Japan.

Continue Reading The Japan Tsunami and Contingent Business Interruption Coverage

Dr. Robert Hartwig and the Insurance Information Institute (III) do an excellent job providing timely information regarding insurance topics. A recent story on insurance coverage for nuclear accidents is an example. As a result of the current catastrophe in Japan, I have been asked by a number of individuals about property insurance coverage in the event of radiation damage. The III answers the question in "Insurance Coverage for Nuclear Accidents."

Continue Reading Is There Insurance Coverage for Nuclear Accidents?