business interruption claims News

The Long Tail of Pandemic-Related Global Insurance Disputes

As the COVID-19 pandemic began to spread around the world last year, businesses faced unprecedented certainty and disruption, leading to a wave of insurance coverage disputes. Roughly a year and a half later, we are beginning to get some clarity …

Insurer Hiscox Earmarks $150M For Hurricane, Flood Losses

Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising rates. The Lloyd’s of London insurer …

Moody’s Says COVID-19 Impact on P&C Insurance Sector Was ‘Moderate’

Neither COVID-19 nor legislation enacted because of it has seriously harmed the creditworthiness of the property and casualty insurance sector, according to a report released by Moody’s Investors Service on Friday. Businesses have filed about 1,700 business-interruption claims because of …

Will 1st Anniversary of COVID-19 Shutdowns Spur New Wave of COVID Lawsuits?

The upcoming anniversary of COVID-19 shutdown orders may reveal whether a significant number of policyholders have been waiting on the sidelines before suing their insurers for business-interruption losses. Holding off on legal action may make sense, as insurers are winning …

New Protocols Aim to Streamline Discovery in COVID Business-Interruption Lawsuits

An organization that advocates for a more efficient U.S. justice system has released a set of protocols that aims to guide discovery and speed resolution of litigation arising from business-interruption claims related to the COVID-19 pandemic. The Institute for the …

Irish Central Bank: We’ll Act Against Insurers Who Don’t Pay COVID-19 Claims

DUBLIN — Ireland’s central bank governor told insurers to urgently honor and pay valid claims related to COVID-19 disruption, following a successful test case in court last week, or risk facing legal action by the regulator. Ireland’s High Court ruled …

Viewpoint: Key Property Loss Provisions Attorneys Keep Forgetting

Are you tired of talking about COVID? I am. Are you as tired of the COVID business income coverage debates? I am. Because I’m so worn out, this article focuses on ONE, ok two, key policy provisions every attorney and …

Insurers Win Most — But Not All — Covid Business-Loss Lawsuits

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since Covid-19 sparked government-ordered shutdowns in March, judges have dismissed more …

The Key to Winning COVID Business-Interruption Claims: Say the Virus is Present

Policyholder attorneys pursuing COVID-19 business-interruption claims are hoping to persuade judges to accept a premise that many Americans appear to doubt: The novel coronavirus is physically present on property and poses an imminent danger to the public. Pleadings that state …

Insurers Cannot Provide Unlimited Cover In Pandemic – UK Supreme Court Told

LONDON — Major insurance companies told the UK Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British businesses devastated by the coronavirus crisis. …