As noted in today's Christian Science Monitor [here], the insurance implications for losses caused by Hurricane Irene will be tempered by at least two factors. First, much of the damage was caused by flood, a peril not covered under a home owner's or commercial property policy. Only if the insured has additional flood coverage will flood loss be covered. Second, many policies have high wind deductibles, effectively moving portions of the risk back to the insured.
Thanks to my blogging colleague Mark Murakami (www.hawaiioceanlaw.com) for sending the Christian Science Monitor article my way.
