Don't Let the Polar Vortex Freeze You out of Insurance Coverage
The so-called “polar vortex” of frigid air that swept the United States in late January 2019 was blamed for more than 20 cold-related deaths and shattered low-temperature records across the country. One hospital in Chicago treated more than 50 people for frostbite during the polar vortex.
The bitter cold also wreaked economic havoc on businesses throughout the world, including a costly halt to the aviation and hospitality industries, and devastated businesses in the Midwest and Northeast U.S. regions through major losses resulting from freezing water and fuel pipes. Preliminary estimates indicate that the polar vortex will cost the U.S. economy billions of dollars.
As the situation stabilizes and the focus turns to economic recovery, businesses will begin to examine their operations, assess their losses, and look to their insurance for compensation. Many businesses may have a valuable asset available in the form of property insurance that can play an important role in helping to recover losses stemming from the polar vortex.
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“Don't Let the Polar Vortex Freeze You out of Insurance Coverage,” by Jared Zola was published in PropertyCasualty360 on March 12, 2019.