Lloyd’s head expects appeal in massive business interruption case
Court recently found that insurers were wrong to deny coverage to businesses ravaged by COVID-19 shutdowns Source link […]
Tag: interruption
Travelers wins business interruption lawsuit case
The question of actual physical loss during pandemic shutdowns remains the focal point of BI lawsuits Source link […]
Regulator’s COVID-19 business interruption test case verdict revealed
It’s the decision the whole insurance industry has been waiting for Source link […]
Momentous business interruption ruling reached in Missouri
Lawyer looks at the implications for insurers and policyholders Source link […]
Poll: Government should provide business interruption support
Getty Images Business interruption losses from a global pandemic are uninsurable due to their sheer scope. Business interruption losses (in the U.S. alone) from the coronavirus are estimated at $220-$383 billion per month — an amount the industry could not and should not be expected to cover. Americans across the country appear to recognize that […]
Travelers Property Casualty, hospital cite opposing rulings over business interruption
Lawsuits enter a new stage, as parties cite two recent but opposing rulings Source link […]
Travelers Property Casualty, hospital cite opposing rulings over business interruption insurance cas
Lawsuits enter a new stage, as parties cite two recent but opposing rulings Source link […]
Insurer wins COVID-19 business interruption case
Judge rules property policy does not cover coronavirus losses Source link […]
U.K. Business Interruption Litigation Seems Unlikely to Affect U.S. Insurers
The Financial Conduct Authority (FCA), which regulates insurers in the United Kingdom, has indicated that it doesn’t believe COVID-19-related losses trigger most business insurance policies because such policies typically require a direct connection between financial loss and physical damage to the insured property. Think fire, flood, wind, or earthquake damage. The FCA is now litigating […]
Business Interruption vs. Event Cancellation: What’s the Big Difference?
As I’ve written previously, the question of whether business interruption provisions in commercial property insurance apply to COVID-19-related losses has become a major topic of debate during this pandemic. Suits have been filed seeking to establish that policyholders are entitled to coverage for such losses – even when losses associated with infectious disease are specifically […]