The March 11 earthquake and tsunami in Japan will have lasting effects on companies worldwide. Of no small concern will be rebuilding broken supply chains and working to get businesses back to normal. Until this happens, however, there are sure to be significant economic consequences for many companies and they will have to turn to their insurance policies to cover their losses. In their latest column, Robert Horkovich and Finley Harckham of Anderson Kill & Olick discuss some of the coverages that may apply and how they might be triggered.

To cover losses suffered as a result of damage to third party property, most commercial property insurance policies include contingent business interruption and contingent extra expense insurance. Though these coverages are narrowly defined and may be subject to sublimits, they can be very valuable in the event of major disruptions to trade.

To read more on this important issue, please visit RMmagazine.com.

And if you haven’t already, please consider donating to a Japan disaster relief fund. PBS has compiled a helpful list of resources here.