Understanding Post-Storm Business Interruption Coverage

The full extent of economic damage from this year’s devastating hurricanes—Harvey, Irma, Juan and Maria—will not be evident for some time. That impact is likely to extend well beyond the Gulf states, Puerto Rico and the Virgin Islands to the greater United States and even global economy. Damage to major oil refineries and chemical, plastics plants in the Gulf, as well as to pharmaceutical and medical device plants in Puerto Rico, is likely to affect supply chains for a wide range of products. Likewise, many businesses will lose sales to customers who suffered damage from the storms.