Big Island tourism still taking big hits
VOLCANO — As Hawaii Volcanoes National Park continues into its fourth consecutive week of closure, the hospitality industry in the hamlet of Volcano faces unprecedentedly lean times.
Park spokeswoman Jessica Ferracane said the closure of the park, which has gone on for 30 days as of Saturday, has so far cost Hawaii Island more than $12.3 million in visitor spending — park visitors last year spent $455,000 each day at Big Island businesses, not counting park entrance fees.
Volcanic activity & insurance considerations for businesses
Ormat taking steps to secure Hawaii geothermal plant in light of lava flows nearby
Natural Catastrophes Dominate 2018 Marine Risk Landscape
Business interruption (BI) and cyber incidents interlink as the major threat for companies globally in 2018, according to the insight of 1,911 risk experts from 80 countries in the Allianz Risk Barometer 2018. However, for marine and shipping companies, natural catastrophes (34 percent), including storm, floods and earthquakes, takes the top spot – up from number four in 2017. BI tied with cyber incidents (31 percent), for the second spot followed by theft/fraud/corruption (27 percent) and fire/explosion (25 percent) to round out the top five business risks in the maritime sector for 2018. These incidents illustrate the complex nature of insurance risks as most are closely intertwined in complex loss cases.
The top three business risks for 2018: Cyber, supply chain and regulatory compliance
Munich Re & easyJet develop business interruption cover for flight cancellation risks
New tax plan won’t help small businesses after hurricane, wildfire, other disasters
Business interruption tops list of commercial risks
USDA issues statement on new soybean rules