Sandy’s Small Business Victims: We Don’t Want Loans!

“Money,” said Mike Ikhmies, the owner of commercial printing firm Eye Graphics & Printing. “We need money.” Ikhmies said he carries fire, theft, liability and other coverage on his 13-year-old printing business. But when it came to flood insurance, the only coverage he could find had sky-high premiums and a too-small coverage cap.

“They only went up to half a million,” he said. “The equipment cost $4 million, $5 million. What good would half a million do if things got damaged?”

Ikhmies sealed his building up as Sandy approached, but floodwater pushed through the windows, covering all of the shop’s printing presses

  • printersays

    Doesn’t that mean that this guy Mike Ikhmies chose the WRONG POLICY?

    If he signed up for a half a million dollar policy to cover his 5 million dollar operation, wouldn’t you call that a stupid decision? He should’ve had a policy that covers 5 million dollars worth of equipment, not half a million.