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Penn State Law

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2014

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The Aftermath Of Catastrophes: Valuing Business Interruption Insurance Losses, Chris French Jan 2014

The Aftermath Of Catastrophes: Valuing Business Interruption Insurance Losses, Chris French

Journal Articles

With the onslaught of tornadoes, hurricanes, and floods in recent years, business interruption losses have been staggering. Many businesses do not survive such catastrophes. Even business owners that purchased business interruption insurance, which is intended to ensure that a business’s revenue stream continues during an interruption in its operations, often find that their insurers have dramatically different views regarding the amount of the losses that should be reimbursed. The reason for this disparity in views is that the loss valuation provisions in business interruption insurance policies provide very little guidance regarding how business interruption losses should be calculated. Thus ...