Last week's giant steam-pipe explosion in midtown Manhattan willturn out to be a huge business interruption loss for insurers, saida local broker who was there when the pipe burst in New York.
Sharon Emek, a partner in the New York City-based insurancebrokerage firm CBS Coverage Group and former chairwoman of theIndependent Insurance Agents & Brokers of New York, said “thiswill be a big business interruption loss.”
New York City court filings show insurers anticipate millions ofdollars in claims, according to an Associated Press report.
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