BILOXI COVERS ITS BETS WITH BUSINESS INTERRUPTION INSURANCE

If a storm or hurricane hits Biloxi, Miss., and closes area casinos, the city will have all bets covered. The city, which obtains $20 million a year or about one-third of its annual operating revenue by taxing nine casinos, has decided to buy business interruption insurance. The Biloxi City Council unanimously approved the purchase, which will cost about $100,000 a year.

The proposal to buy insurance was proposed by Mayor A.J. Holloway, who pointed out that income from the nine casinos operating in the city provide a third of its annual operating revenue.