Don't Wait for a Riot to Review Your Business Interruption Insurance

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In the wake of recent rioting in England, Stoel Rives attorney Stevan Phillips discussed in Business Insurance the importance for mid-market companies to review their insurance policies for business interruption coverage. Most companies have some form of business interruption coverage built into their commercial property policies, including coverage for income lost due to restricted access to property.

Phillips warned that companies should carefully review their policies and keep tabs on the evolving nature of their total risk profile. "Simply because a company loses income does not mean it has coverage for that loss," he noted, adding that "there are a number of variations in policies that come into play" for riot-related losses.

"Don't wait for a riot to review coverage" was published by Business Insurance, August 22, 2011.

Additional discussion by Phillips regarding business interruption coverage trends is available in Inside the Minds™ Recent Developments in Disaster Coverage Litigation, published by Aspatore Books, 2011.

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Stevan D. Phillips
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