business interruption News

Many Businesses Don’t Have Enough Insurance to Cover Disaster-Related Losses

A fire at the gun shop next door never reached Kathy Laurienti’s sausage and specialty food store, but the water and smoke damage was enough to shut her business down. Because Laurienti didn’t have enough insurance, it’s still closed – …

Twin Japan Quakes Cause Business Disruption

The twin earthquakes that struck southern Japan were having ripple effects far beyond the disaster zone, forcing Toyota to suspend production at most of its factories across the country, and affecting other manufacturers as well. The quake damaged Honda’s motorcycle …

Cyber Threats, Competition Top Business Concerns in 2016 Allianz Risk Barometer

The impact of disruptive events, fierce market competition and cyber incidents ranked as top concerns, according to the fifth annual survey on corporate risks published by Allianz Global Corporate & Specialty (AGCS), which surveyed over 800 risk managers and insurance …

Allianz: Fire, Explosion Main Causes of Business Interruption Loss

The average large business interruption (BI) property insurance claim is now in excess of $2.4 million, 36 percent higher than the corresponding average property damage claim of just over $1.7 million, according to a new report from Allianz Global Corporate …

Few Midsize Business Continuity Plans Have Been Tested

Most midsize businesses have business continuity plans but few have tested them, according to The Hartford’s survey of midsize business owners and C-level executives. This shortcoming presents potential risk for businesses, which may be unable to meet client needs due …

Technology, Supply Chain and Regulatory Risks Top Concerns for Global Businesses

A new wave of interrelated, fast-changing risks, reflecting rapid changes in the global economic landscape and the increasing role of technology and multinational expansion as growth drivers, tops the list of concerns for businesses across Europe, the Middle East and …

Cyber, Supply Chain Lead UK Survey of Top P/C Insurance Risks

Demand for cyber security coverage from insurance buyers ranks number one among several emerging risks, according to a recent survey undertaken by RKH Specialty, a London-based specialty lines broker. Insurance professionals indicated that for property coverages, supply chain disruption is …

The Changing Landscape of Business Interruption Claims

The high costs related to business interruption should provide an impetus for companies to prep for them in advance, according to industry experts. During a webinar hosted by Marsh, insurance experts detailed the top five issues related to business interruption …

Top Business Insurance Losses Revealed in New Allianz Report

Nearly 70 percent of business financial losses arise from 10 causes of loss, with the largest single identified cause being ship groundings, reflecting the high values of modern shipping risks, followed by fires and aviation crashes, according to a new …

Business Interruption, Supply Chain Among Top Business Risks for 2014: Allianz

Business interruption (BI) and supply chain, natural catastrophes and fire/explosion top the list of company risks in 2014, according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries. The survey conducted by …