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Volume 32, Issue 3

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Thursday, 19 April 2012 00:47

Insurance Recovery for Businesses with Tornado-Related Damage and Losses

Written by  NICHOLAS J. ZOOGMAN & KENNETH BERLINE TROTTER

According to the National Weather Service, 800 tornadoes are reported nationwide in an average year. This results in 80 deaths and more than 1,500 injuries. The tornado season of 2011, however, was one of the most active and deadly. There were more than 1,200 tornadoes and 568 deaths. This year the tornado activity in the United States was also widespread — impacting states in the central, south, mid-Atlantic, and northeast regions. Beyond the tragic loss of life and property suffered by individuals and families, these tornadoes left small businesses and corporations in dire financial need as a result of property destruction and interruption of commerce.Faced with great economic losses, communities impacted by tornadoes should carefully determine whether they have insurance that may apply to the resultant losses or damage and actively pursue that coverage in order to maximize the recovery that is provided by the applicable insurance policies. Businesses that