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Responding to the Texas Winter Storm Crisis: Issue 2 Winter storms and wide-area events like the one that recently devastated Texas leave behind challenging questions about business interruption insurance coverage.
TAKEAWAYS
Property insurance policies with business interruption coverage and case law require close inspection to determine the proper method for measuring business interruption claims following wide-area impact catastrophes.
Quantifying a policyholder’s business interruption loss is a contentious issue in the wake of large scale disasters.
The methodology for calculating business interruption losses varies by jurisdiction and can depend on specific policy language. ....

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