Avoiding business interruption losses on campus
While the majority of discussions concerning coverage following Hurricane Sandy have focused on homeowners and commercial businesses affected by the disaster, institutions such as colleges and universities have their own unique concerns and struggles to cope with after a storm. These losses remind us of the need to review and carefully draft policies to guard against future catastrophes, primarily in the case of business interruption losses and other nuances specific to higher education institutions.
Without a doubt, business income losses are very difficult to face and require time to adjust. For those in the higher ed field, the challenges may prove to be even more complicated. The smallest adjustment to a policy can sometimes be the difference between protecting revenue or facing a major loss. I encourage anyone in risk management at a higher education facility to check out our latest White Paper to learn more on seven business interruption coverage enhancements that help institutions prepare for future losses and aid in disaster response planning.
About the Author
Ronni Rausch is a Vice President at WGA, and works with a variety of clients, from public entity/not for profit institutions to professional consulting and financial firms. Her goal is always to negotiate the broadest possible programs at the most competitive premiums available for her clients.