Reports estimate the damage caused by Hurricane Sandy at $50 billion; greater than any U.S. hurricane other than Katrina. Sandy has caused an estimated $28.2 billion in insured losses. In addition to property damage coverage, many commercial insurance property policies provide coverage for business interruption losses and extra expenses incurred as a result of the storm—even if a business suffered no physical damage. Companies affected by Hurricane Sandy should take action to protect their rights as policyholders and maximize insurance business interruption and extra expense recoveries.
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