Anthony Crawford Publishes Article in Daily Business Review on Why Commercial Insurance Policyholders Should Prepare Now to Protect Their Property and Income Streams

Chair of Olshan’s Insurance Coverage Law Practice Anthony Crawford and Arnie Mascali of A. Mascali Enterprise authored an article in The Daily Business Review entitled “'Winter Is Coming': Commercial Insurance Policyholders Should Prepare Now to Protect Their Property and Income Streams.” In the article, the authors highlight the critical importance of proactive commercial insurance planning as businesses face increasing risks from severe weather events, supply chain disruptions and evolving market conditions that could threaten both physical assets and revenue streams. “As hurricane season comes to its traditional closes at the end of November, the recent devastation of Hurricane Melissa, a Category 5 hurricane, serves as a reminder that forces of nature can still arise at any time,” they write. “Accordingly, as the chapter closes on hurricane season, the winter season begins shortly after. This is not the time for complacency. Weather forecasters are predicting that early winter storms from Canada could hit the Midwest and push into the mid-Atlantic and New England areas. Powerful winter Nor’easters (named such because the winds over the coastal area are typically from the northeast) can also bring devastating weather all along the U.S. East Coast.” Essential strategies include reviewing policy coverage, updating property valuations and ensuring business interruption protections are adequate for today's challenging environment. “Case law permits a policyholder to prove its business interruption loss in a practical way, through virtually any type of evidence,” they explain. “Because of the complexity of these types of claims, prudent policyholders often hire forensic accountants experienced in insurance matters to assemble their business interruption claim. Note, however, that policyholders should always treat their claim as if it will go to trial, and carriers often seek to exclude the testimony of forensic accountants. It is best to have multiple people who can prove the claim, including the policyholder’s regular accountants and its own employees.”