Insurance
Aug. 19, 2010
From Russia With Love
Companies facing losses due to the Russian grain export ban may seek to recoup lost profits under "contingent business interruption" insurance provisions, by Deborah L. Stein of Simpson Thacher & Barlett.
With hundreds of devastating wildfires and a scorching heat and drought reportedly destroying one-fifth of its crops, Russia recently announced a ban of all grain exports beginning this week and continuing through the end of the year. Experts are already opining that the world does not have enough exportable supplies to meet demand for wheat and feed grains. While the shortages may provide a boost for U.S. farmers, manufacturers across...
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