The BP Oil Spill Catastrophe is providing many resulting Claims for Damages. Insurance Coverage issues they generate include the Insurance Coverage Issues of Business Interruption Coverage.
Estimates of future Damage to Gulf Coast people and businesses include these:
- 17, 000 lost jobs and $1,200,000,000.00 in "lost economic growth" through the end of December, 2010 if the spill is stopped in August.
- 100,000 lost jobs and $7,400,000,000.00 in "economic losses" if the spill instead continues through December, 2010.
These estimates and a rising chorus of cries that relief money should be sent to Florida first because it has no fault, or less fault, than its neighbors in Louisiana, Mississipi, Alabama and Texas, are mentioned by Robert Trigaux, "Venture Blog/As Florida Resentment Rises Over Spill, New Report Warns of Job, Economic Losses Ahead" (Posted on Tuesday, July 20, 2010 on St. Petersburg Times Online Venture Blog).
Dennis Wall is Co-Author of the leading book on Insurance Coverage for Catastrophe Claims, "CATClaims: Insurance Coverage for Natural and Man-Made Disasters" (West Publishing Company 2008; 2010 Supplement in process). Mr. Wall will speak on a panel at the American Conference Institute's Bad Faith Litigation Conference in Orlando, Florida on November 30, 2010 on "Dealing With Catastrophic Disasters: How to Properly Investigate and Handle Overwhelming Claims".
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