Haynes and Boone, LLP Partner Barry Buchman was quoted by Business Insurance in an article on the issues that companies may experience in receiving coverage for business losses caused by volcanic eruptions, an issue of growing concern in light of recent volcanic activity in Hawaii.
Here is an excerpt of the article:
Barry Buchman, a partner in the insurance recovery practice group for Haynes and Boone, LLP in Washington D.C., said in the case of volcanoes, business owners are typically looking at first-party property damage and business interruption coverage.
“The typical business owner who might not be steeped in insurance may think that ‘unless my property itself was damaged, then I’m not going to have a claim,’” Buchman said. “But what they don’t realize when you have significant evacuation orders, the disruption, the business loss from that may be covered under what we call the civil authority [provisions] of typical property damage policies.”
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