Preparing For Contingent Business Interruption Claims In The Wake Of Superstorm Sandy

By Joshua Broudy and Alexander Henlin The sheer amount of physical damage caused by what was left of Hurricane Sandy when it made landfall in New Jersey on October 29, 2012, is difficult to comprehend fully even now. Hundreds of communities along the coast were inundated by the storm surge and torrential rain. Large cities and small towns from North Carolina to New England were lashed with high winds for hours on end. Roads, boardwalks, electrical substations, subways, and cities alike suffered devastation on a scale unseen in modern times. But public infrastructure was not alone in being battered by Sandy. Houses, industrial parks, warehouses, and office towers alike had roofs ripped off, doors forced in, and windows broken. Dozens of office buildings in Lower Manhattan remained closed for weeks because their basements flooded floor-to-ceiling with brackish water, ruining telephone switches, electrical equipment, and elevators. Current estimates indicate that the insurance industry may see losses of $20 billion or more from Sandy.Full story on lexis.com