Business Interruption and Contingent Business Interruption (CBI) claims loom as large issues following Superstorm Sandy, as thousands of businesses of all sizes deal with flooding, physical damage, power outages, government orders and supply-chain disruptions.
Clark Schweers, a managing director for BDO Consulting (a provider of litigation, investigation, risk-management and other services for major corporations and insurance companies), says companies are only beginning to “wrap their arms around” the vast business-interruption implications left in Sandy's wake.
As the head of the firm's business-interruption and insurance-claims practice, Schweers says he's already talked to companies—and each is just starting the process, if it's even possible, of accessing losses due to the vast disruption caused by Sandy.
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