Aftershock — Coverage Issues Post East Coast Quake
August 26, 2011, 2:44 PM EDT
Law360, New York (August 26, 2011, 2:44 PM EDT) -- In a part of the country where earthquake insurance is an afterthought, insurance issues could get complicated following the 5.8 magnitude earthquake that shook the eastern seaboard this week. Businesses will be considering and reviewing whether there is available coverage and in many cases will find that coverage is barred or limited under widely used property insurance terms.
Because many property policies contain exclusions for “acts of God,” earthquakes and land movement coverage may be excluded on one or more of these bases. However, insurers may...