Massey Has No Business Interruption Insurance

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 at some point after an investigation of the blast is completed. Until then, it has plans for UBB miners to work at other Massey mines in the area.

In a letter to shareholders, Massey said it has insurance to cover it against suits that might be brought against it as a result of the blast, but it has no insurance against business interruption at the mine.