All the headlines from our Business Interruption Topic Page, ordered by recency.
May 17 2010 // The blame game for the recent British Petroleum (BP) oil rig accident and subsequent oil spill is just getting started, as are the insurance implications of this disastrous event, according to underwriters and other...
May 17 2010 // Ash spewing from an Iceland volcano halted air travel and countless business meetings and deals across Europe.In Times Square, hotels and businesses were shut down after a bomb was discovered in an abandoned car along...
May 11 2010 // The blame game for the recent British Petroleum (BP) oil rig accident and subsequent oil spill is just getting started as are the insurance implications of this disastrous event, according to underwriters and other...
Apr 19 2010 // It would probably be rather difficult to find many agents unaware of business interruption coverage. Most recognize that for their business customers, business interruption (BI) coverage is extremely valuable. It is, after...
Apr 19 2010 // The impact of recent high-profile natural catastrophes has brought to the forefront the need for businesses to have appropriate time element insurance coverage in place. With this raised awareness, agents and brokers are...
Apr 19 2010 // Massey Energy Co. said it will increase coal production at its other mines to compensate for production lost at the West Virginia mine where 29 miners died in a blast. It expects to reopen the Upper Big Branch (UBB) mine...
Apr 9 2010 // Massey Energy Co. said Friday it will increase coal production at its other mines to compensate for production lost at the West Virginia mine where at least 25 miners died in a blast this week.It expects to reopen the...
Sep 7 2009 // Just when I really think I understand a coverage I am blind-sided by the reality of what is actually happening in the insurance industry. I remember the good old days when a business owners policy (BOP) was a simple policy...
Jul 10 2009 // New research by Marsh has determined that “British organizations are more concerned during the recession by overseas risks affecting their supply chains and business rather than by threats closer to home.”In...
Feb 8 2009 // Business owner policies, traditionally referred to simply as BOPs, were introduced in 1976 and significantly revised in 1987. The BOP evolved gradually since the 1987 revisions to include risk classification and sizes not...
Dec 17 2008 // Marsh’s London office announced that it has appointed Rod Ratsma as managing consultant in its UK Business Continuity Management (BCM) team. ” The bulletin notes that he is a “highly respected pioneer in...
Oct 28 2008 // Eighty-eight dairy farmers in western Vermont and New York have taken a major economic hit from a Sept. 29 fire at the Saputo Cheese USA plant in Hinesburg, Vt. (about 12 miles southeast of Burlington). Ten to 12 percent...
Aug 22 2008 // Encino, Calif.-based NAS Insurance Services has expanded its regulatory business interruption (RBI) insurance to include healthcare and medical risks — hospitals, long-term care and public health departments —...
Jun 2 2008 // A typical business interruption policy limits the period of time for which an insured can recover to the so-called “restoration period.” The applicable period is primarily determined by the terms and conditions...
May 9 2008 // The “Marsh Power Forum” in Paris this week identified potential insurance problems for the industry. Marsh noted that “the combination of rising demand and insured costs in Europe’s electricity...
Apr 1 2008 // A new survey from Marsh has determined that “many European firms are failing to overcome a ‘perception gap’ in their approach to business continuity management (BCM).Marsh’s latest research, The...
Mar 7 2008 // When the roaring 170 mph winds descended on Alabama’s Lawrence County on Feb. 6, Bobby Thurman’s first thought was not the financial strength of the poultry operation he manages for Smith Poultry.As flames...
Feb 20 2008 // Willis Group Holdings has launched a new facility to cover business interruption and recovery costs stemming from malicious and accidental loss of data. Willis described its CyPro, as a “new suite of products,”...
Dec 2 2007 // Considering the number of people who lived and worked in the area, the destruction of the World Trade Center complex was the functional equivalent of obliterating a small- to medium-sized city.Several recent and relatively...
Nov 18 2007 // Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005 and the Sept. 11, 2001, terrorist attacks — have raised awareness of how, and whether, business...