Ep.

In the aftermath of Hurricane Beryl, millions of residents and businesses in the City of Houston found themselves without electricity. As a result, not only are firms unable to operate due to a lack of electricity (e.g., operate production machinery), but also due to the lack of water (e.g., wastewater treatment plants are offline). Right now, many commercial property insurance policy holders are wondering if their insurance is going to cover their loss or revenue due to a lack of utilities. Odds are - probably not.
In this episode, we examine the fundamentals of utility service interruption coverage and how it can be used to protect your firm’s balance sheet from extended periods of interruption (e.g., electricity, telecommunications, water). As we discuss, this solution is available to help mitigate the loss of utility services “beyond your fence line”. Considering how much of our daily lives are dependent on utilities, and how climate change is increasing the risk to these types of service interruptions, this coverage should be given special consideration to any firm looking to improve their overall resilience.