Devastating tornadoes, floods, earthquakes overseas and a busier-than-usual hurricane season have U.S. insurance companies bracing for record losses in 2011.
Globally — including the major earthquakes in New Zealand and Japan — U.S. and overseas insurers could post up to $55 billion in losses, EQECAT projects.
In the United States, billions of dollars in damage were the result of a rare violent weather hitting densely populated areas.
Paperless advise:
Check your insurance for the following coverage
1. Drain back up
2. Debris Removal
3. Flood
4. Consequentual loss
5. Loss of business income
6. Exterior Sign Coverage
7. Earth movement (usually the most expensive coverage)
Also, from the legal advise area, check that your contracts and agreement have force major condition clause, that describes how bad weather can affect execution of your contractual obligation.