FC&S Ponders Business Income Claims

The answer to the multibillion-dollar question of how big the ultimate insured loss from the terrorist attacks on America will be hinges on determining the size of lost income and expense claims that arise from attack-related business shutdowns, insurance experts say.

“Massive,” “major,” “global” and “uncertain” are all words that consultants, claims experts and insurance analysts are using to describe the extent of business interruption claims related to the attacks. These experts have set estimates that vary anywhere from $3.5 billion to $25 billion, all agreeing that theres potential not only for claims from operations that were once housed in New York's World Trade Center buildings, but also from those situated well beyond the 10048 WTC ZIP code.