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

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

Archive