We’ve been talking a lot about Sandy and the residual effects of the hurricane that hit the Northeast last October. And in the coming months we’ll continue to do so as different issues continue to arise, putting insurance in the spotlight as businesses and residents learn about what is and isn’t covered during the claim process. One of the [...]
Hurricane Sandy’s destruction along the Jersey Shore and the wreckage it left behind underscores the exposures properties face so close to the coast. Now many are rethinking the development that has taken place along the Shore over the last two decades and whether changes should be made to coastal land-use regulations and building codes. What’s more, the [...]
After years of delaying capital expenditures, hotel companies are now taking the opportunity to renovate their properties. In fact in 2012, we saw more hotels renovating lobbies, restaurants, bars and fitness centers, and this trend will continue into 2013. Also, with the volume and scope of renovations increasing, large and small contractors that provide products and services [...]
Superstorm Sandy’s impact will be far-reaching for months and years ahead, as the hardest-hitting areas in New Jersey, New York, and Connecticut grapple with cleanup and rebuilding. What’s more, many issues have reared their heads in the wake of Sandy – from business interruption issues, supply chain disruptions, and flood coverage disputes to building code regulations and [...]
Travel and hospitality is the world’s largest industry, with the World Travel and Tourism Council predicting revenues in excess of $15 trillion by 2017. Over 50% of all travel reservations are now made online, including hotel reservations, with data collected and stored that may include: names, addresses, personal email addresses, and of course, financial data [...]
As businesses and residents throughout the Eastern Seaboard muddy through the devastation that Superstorm Sandy left in its wake, many are struggling with the cost of becoming whole again. Although previous storms, including last year’s Nor’easter that hit New York, New Jersey, and Connecticut, downed trees and power lines and flooded properties, highlighted the need [...]
The total cost of Superstorm Sandy’s damage on the East Coast are still unknown, with estimates of in excess of $50 billion in economic losses, and between $20-$25 billion in insured losses, according disaster-modeling company Risk Management Solutions. The human suffering and devastation, of course, is immeasurable with the death toll at about 160 and [...]
