The annual cost of major U.S. power outages averaged $67 billion between 2018 and 2024, reaching $121 billion in 2024, according to the Department of Energy’s Oak Ridge National Laboratory. Much of that cost is uninsured – not because the risk of power outages is theoretically uninsurable, but because standard commercial property and business interruption policies are structurally designed to exclude it. Standard BI cover usually requires physical damage to the insured property as a precondition for a business interruption claim, and most policies impose a waiting period before the cover is triggered. Short duration power outages – the category that generate the most frequent and economically significant losses – cause no physical damage and are resolved before the waiting period ends, leaving financial loss completely out of the policy.
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