What disaster or insurance-related event affected you most in 2014?
Segal McCambridge Singer & Mahoney Ltd.'s Henry Scott is one of four CLM members who answered this month's question.
“The courts were anything but quiet as much of the expansive Sandy litigation reached maturity. After two years of working toward equitable resolution, this year saw intense litigation and several key dispositive rulings on many cases that could not be amicably resolved.”
1. Cathleen Kelly Rebar, Partner, Stewart Bernstiel Rebar & Smith. CLM Member since 2009.
“The polar vortex early in the year was a significant event that caused flooding and an increase in home fires and commercial claims over a wide-ranging geographic region for a prolonged period of time. The enormity and complexity of it all was unparalleled.”
2. Wayne M. Wudyka, CEO, CRDN. CLM Fellow since 2012.
“Our practice group revised its staffing model to meet the demands of a high filing rate for asbestos cases in Illinois. Finding the time to create and implement the new model was very challenging, but the results were well worth it.”
3. Scott Henry, Partner, Segal McCambridge Singer & Mahoney Ltd. CLM Member since 2012.
“The polar vortex. I work with many retailers, restaurants, and municipalities. The cold and snow caused a spike in claims and litigation in early 2014. Here’s to a warmer 2015!”
4. Rich Lenkov, Attorney, Bryce Downey & Lenkov LLC. CLM Member since 2009.
Number of years a low-temperature record of six degrees stood for NYC’s Central Park. It was broken in January 2014 when a temperature of four degrees was recorded.
Percent of companies with commercial activities exposed to severe weather risk.
The estimated cost of 20,000 canceled flights during the polar vortex in 2014.
Source: Cowen and Company
Percent spike in searches for flights to Cancún, Mexico, from people in Minneapolis and Chicago during the polar vortex.
Source: Hopper Research
The amount of damage in the U.S. caused by Superstorm Sandy.