economic damages News

Sandy Costs New York City $200M a Day in Economic Damage

The aftermath of super storm Sandy is costing New York City up to $200 million a day in permanently lost economic activity, including everything from the sale of pizza slices to corporate mergers and other Wall Street deals, the city’s …

Sandy’s Hit is Hard to Gauge for Economists

Massive storm Sandy could slow growth in the already weak U.S. economy to as little as 1 percent in the fourth quarter. But the wide range of forecasts from analysts reflected how hard it is to gauge Sandy’s impact on …

Calif. Court Rules Plaintiffs Shouldn’t Benefit From Negotiated Rate Differential

California’s highest court has ruled that accident plaintiffs may only recover economic damages equal to the amount paid by their insurer and not the higher amount billed. The opinion stated that “the negotiated rate differential is not a benefit provided …

BP Pays $30 million for Florida Tourism Promotion

Oil giant BP has agreed to pay $30 million to seven Florida Panhandle counties for tourism promotion over the next three years. Gov. Rick Scott joined BP executive Luke Keller on Monday to announce the grant. It’s designed to help …