How Insurance Can Help Businesses Rebuild


Originally published in Law 360 - June 13, 2011.

As flood waters have threatened Missouri communities along the Mississippi river, and as the town of Joplin reels from the recent devastating tornado, the residents of these communities are quite appropriately absorbed with efforts to save lives and to regain some semblance of normal daily life. But, eventually, the flood waters will recede, the debris will be cleared, and business owners will turn their attention to repairing and rebuilding their businesses and recouping losses sustained.

Depending on the circumstances and the insurance purchased, insurance contracts may help businesses recover losses resulting from damaged buildings, vehicles, equipment and other property.[1] Some commercial insurance policies, for example, in addition to covering events like tornadoes and hurricanes, also expressly provide coverage for damage caused by floods.[2]

Moreover, beyond coverage for physical damage to property, businesses also may be able to recoup lost profits caused by an interruption of their business due to: property damage, an inability of people or materials to reach a business, or damage to key suppliers or customers.

Please see full article belowf for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Gilbert LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.