August 8, 2011
It seems that every day this year we hear about another disaster involving floodwaters. First, it was the disastrous tsunami in Japan, and now a series of epically swollen rivers overflowing their banks from the Canadian border to the Gulf of Mexico. In addition to the tragic human toll, all of these calamities have caused enormous damage to property and billions of dollars in lost corporate profits. Companies that have flood insurance should have the wherewithal to rebuild their businesses once the waters recede. However, many businesses had no idea they could be harmed by floodwaters at home or abroad, and they will have to look carefully at their property insurance in the hope of finding coverage.