business interruption News

Another Restaurant Files Suit to Force Coverage for Virus Shutdown

Two California restaurants has filed a lawsuit against a unit of The Hartford, seeking a declaration that the owner’s commercial insurance policy covers losses caused by a statewide business shutdown ordered to prevent the spread of coronavirus. The lawsuit filed …

Native American Casino Owner Sues Lloyd’s, AIG Over Coronavirus Losses

A Native American tribe on Tuesday sued a group of insurance companies, asking a court to declare that losses it is incurring from shutting down its casinos during the coronavirus pandemic are covered by insurance. Among the defendants named in …

Sources Say Saudi Aramco Pursues War Cover After Attacks

Saudi Aramco is looking to buy insurance against war and terror attacks after a damaging drone and missile attack on some of its oil facilities in September, two sources told Reuters. Aramco, the world’s largest oil company, has been looking …

Survey Suggests Ransomware Broadening Perceptions of Cyber Risks

Corporate risk managers are increasingly focusing on protecting their enterprises from business interruption after a series of ransomware attacks on government agencies highlighted the peril of losing access to their computer networks, according to a survey released by Zurich Insurance …

Business Interruption: Factory Fire Snuffs Out Output of Key Ford, Mercedes Models

A fire at a Chinese-owned auto parts plant in Michigan has cut off supply of key components and disrupted production of crucial Ford Motor Co. and Daimler AG models, with the U.S. automaker already saying it’ll hurt profit in the …

Business Interruption, Cyber Attacks at Top of 2018 Allianz Risk Barometer

Business interruption (42%) and cyber incidents (40%) lead this year’s top business risks, globally, according to the seventh annual Allianz Risk Barometer. Allianz Global Corporate & Specialty (AGCS) announced the findings last week, based on insight from 1,911 risk experts …

Allianz Risk Barometer Finds Business Interruption Top Concern

Companies increasingly worry about the unpredictable business environment where markets are volatile and political perils, such as protectionism or terrorism, are on the rise. Other growing concerns are digital dilemmas arising from new technologies and cyber risks, as well as …

Many Businesses Don’t Have Enough Insurance to Cover Disaster-Related Losses

A fire at the gun shop next door never reached Kathy Laurienti’s sausage and specialty food store, but the water and smoke damage was enough to shut her business down. Because Laurienti didn’t have enough insurance, it’s still closed – …

Twin Japan Quakes Cause Business Disruption

The twin earthquakes that struck southern Japan were having ripple effects far beyond the disaster zone, forcing Toyota to suspend production at most of its factories across the country, and affecting other manufacturers as well. The quake damaged Honda’s motorcycle …

Cyber Threats, Competition Top Business Concerns in 2016 Allianz Risk Barometer

The impact of disruptive events, fierce market competition and cyber incidents ranked as top concerns, according to the fifth annual survey on corporate risks published by Allianz Global Corporate & Specialty (AGCS), which surveyed over 800 risk managers and insurance …