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A survey by The Hartford of Superstorm Sandy victims finds that small businesses took an average of seven days to reopen primarily because of connectivity and power issues, and that few had business interruption (BI) insurance to cover their losses.

The carrier’s survey of 451 New York Tri-State area business owners impacted by the Oct. 29 catastrophe found the vast majority—74 percent—had to close their doors for a period of time. Seventy-one percent experienced power outages and 11 percent said their buildings suffered structural damage. Fifty-two percent said they experienced loss of sales or revenues and 36 percent called the overall impact on their businesses “significant.”

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