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

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

Archive