Post-9/11: period of restoration cases and issues

Business interruption (BI) coverage under first-party property policies provides coverage for lost business income during the period of restoration for damaged property. Numerous claims were presented after the attacks of September 11, 2001, for BI losses suffered by businesses located in and near t...

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Bibliographic Details
Published in:The Brief (Chicago. 1980) 2008-06, Vol.37 (4), p.38
Main Authors: Gallozzi, Marialuisa S, Strosnider, Kimberly A
Format: Article
Language:English
Subjects:
Business interruption insurance
Insurance coverage
Insurance law
Insurance policies
Interpretation and construction
Laws, regulations and rules
Property & casualty insurance
Property and casualty insurance
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Summary:Business interruption (BI) coverage under first-party property policies provides coverage for lost business income during the period of restoration for damaged property. Numerous claims were presented after the attacks of September 11, 2001, for BI losses suffered by businesses located in and near the World Trade Center in New York City. The authors examine cases addressing whether the time needed to rebuild the WTC itself should dictate the length of the period of restoration for the affected businesses and offer practical coverage issues for policyholders to consider. [PUBLICATION ABSTRACT]
ISSN:0273-0995
2163-0178