Chicago insurers weigh flood damage after tunnel rupture
Dr Joseph Toups and other professionals await word on whether rising water damage is covered by their policies after a century old freight tunnel under the Chicago River ruptured on April 13 sending water into downtown basements. About 200000 people were evacuated and the business district crippled for days with an estimated 1.5 billion economic toll as crews pump out water and restore power to remaining buildings.
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Chicago
Joseph Toups
Flood hits high rise tenants with insurance doubt
Thursday the resident reported no heat no home service and no drinking water while estimating $10 000 in losses. The St Paul Co insurer said claims are not yet covered but under review as experts note water damage exclusions in many small business policies. State officials warn approvals may be slow and hinge on contract language.
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UPI asks to auction its assets
United Press International UPI asks bankruptcy judge to allow an asset auction before May 15 as it risks ceasing operations due to payroll inability. The long running news service filed for Chapter 11 protection after seeking bankruptcy relief last year.
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