Wiggin and Dana Partner Quoted in Best's News Service
Wiggin and Dana Partner, Joseph Grasso, Co-Chair of the firm's Insurance Practice Group, was quoted in a January 30, 2013 article in Best's News Service titled, "Exposures at East Coast Ports and Terminals Could Rack Up Record Post-Sandy Supply Chain Losses." The article discusses the financial exposures to disruptions in critical supply chains in the wake of Hurricane Sandy.
In his quote, Grasso highlighted the "wind vs. flood" debate, which was a major issue that faced supply chain insurers and insureds after the storm, noting that flood is frequently not covered, but wind damage is. Grasso also mentioned that, "A big legal question is whether Sandy was considered to be a hurricane when the storm hit the ports and caused the damage that insurers are being asked to pay for," noting that a policy may specify different terms for that versus a non-named storm.
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