Tristate Business Insurance Blog

RSS Grab the Tristate Business RSS Feed!

Get e-mail notifications of new blog posts!
Enter email address below:

Delivered by FeedBurner

 

Irene Caused Less Damage than Expected, But Uninsured Damage is Big

Joseph Coupal - Thursday, September 01, 2011

The hurricane has passed; overall, damage was not as bad as expected. While many business owners dodged a bullet, others were not so lucky. Insured damage from Irene will range between $2 billion and $3 billion, and the total losses will likely be about $7 billion, according to preliminary estimates by Kinetic Analysis Corp. a consulting firm.

Both figures are less than had been feared, a bit of reassuring news for a fragile economy. However that is $4-5 million in uninsured loss; so the news isn’t that reassuring to the businesses who have to figure out how to cover that loss.
 
Also, the long-term costs of Irene will likely grow as storm-ravaged areas deal with lost business, insurance claims, dislocated workers and transportation disruptions. These costs will take months to fully calculate.

The preliminary estimate from Kinetic Analysis, based in Maryland, suggests that Irene will have caused far less insured damage than the $6 billion the industry paid out after Hurricane Isabel struck the East Coast in 2003.

Information from insurancenews.net

Comments (0) | Trackbacks (0) | Permalink

1

Recent Posts

Tags

liquor liability coverage TriState Business Insurance, VA EPLI insurance broker insurance policy insurance claims garage owners insurance, VA, MD, DC business insurance, VA, DC, MD home based business insurance general liability insurance, MD, VA, DC commercial auto insurance, MD, VA, DC workers' comp insurance, VA, MD, DC Employment Practices Liability Insurance commercial business insurance, VA, MD, DC third party liability suit hurricane home owners insurance, VA, MD, DC high liability insurance Washington DC independent brokers, VA, MD, DC commercial insurance quotes inland marine insurance, VA, DC, MD general liability insurance nightclub insurance commercial insurance workers' comp insurance costs, VA, MD, DC fleet insurance personal insurance, VA, MD, DC restaurant insurance, VA, MD, DC workers comp pizza delivery insurance workers' comp insurance coverage, VA, MD, DC business umbrella insurance business insurance coverage, VA, MD, DC business insurance, MD, VA, DC commercial insurance policies liquor insurance hurricane damage catering insurance workers' comp, VA, MD, DC Maryland home-based business insurance coverage, VA, MD, DC general liability insurance, VA, DC, MD liquor liability insurance, VA, MD, DC insurance for bouncers commercial automobile insurance quotes inland marine insurance Virginia professional liability coverage, VA, MD, DC motor trade insurance, VA, DC, MD comprehensive insurance policy insured businesses home based catering insurance workers' compensation costs, VA, MD, DC commercial auto, MD, VA, DC specialist insurance policy garagekeepers legal liability business insurance broker umbrella insurance business insurance commercial liability insurance bar or nightclub insurance business interruption insurance home-based business insurance VA, MD, DC Dram Shop laws workers compensation business insurance, VA, MD, DC delivery insurance independant contractors insurance, VA, DC, MD TriState Insurance, VA workers' compensation insurance, VA, MD, DC business insurance brokers, VA, MD, DC consulting insurance construction insurance commercial insurance, VA, MD, DC bar liability insurance workers compensation insurance, VA, MD, DC garage insurance, VA, MD, DC earthquake insured loss personal lines insurance, VA, MD, DC umbrella liability insurance HVAC insurance, VA, MD, DC specialty business insurance coverage business liability insurance independent insurance brokers, VA, MD, DC commercial insurance brokers, VA, MD, DC business insurance small business insurance, VA, DC, MD commercial insurance brokers pub insurance small business insurance business insurance coverage, VA, DC, MD workers comp insurance, VA, MD, DC valet service insurance workers' compensation, VA, MD, DC business insurance policy business insurance policy, VA, MD, DC commercial auto insurance quotes general liability home based business insurance, MD, VA, DC extra expense coverage Consulant business insurance food borne liability insurance business insurance liability coverage VA MD DC business insurance coverage business insurance plan insurance for independent contractors auto liability insurance policy, VA, MD, DC potential liability bars and clubs small businesses, MD, VA, DC commercial auto insurance independant contractors insurance DC commercial umbrella insurance liability coverage home based businesses, MD, VA, DC The Hartford liquor liability insurance coverage food borne illness coverage, VA, MD, DC workers compensation injury commercial auto insurance VA MD DC delivery driver insurance entrepreneurs small business owners auto insurance, MD, VA, DC restaurant liability insurance insurance for valet services liquor liability insurance garage owners insurance, VA, DC, MD insurance brokers, VA, MD, DC workers comp, VA, MD, DC garage keepers legal liability liquor liability car dealership insurance, VA, DC, MD small business insurance, MD, VA, DC business owners home base business insurance, VA, MD, DC contractors insurance, VA, MD, DC business liability insurance, VA, MD, DC Wahington D.C.

Archive