shutdown News

Fitch Cautious, but Economist Predicts ‘Isolated’ Impact From Business-Interruption Claims

While Fitch Ratings worries that litigation over COVID-19-related business-interruption claims is creating uncertain risk for property and casualty insurers, an economist who once served as a chief advisor to the industry said he doubts there will be a widespread impact. …

Mississippi Casino Sues Insurer That Won’t Pay COVID-19 Loss

GULFPORT, Miss. — A Mississippi Gulf Coast casino has become one of many businesses nationwide to sue its insurer for refusing to cover business losses because of the coronavirus pandemic. Island View Casino Resort in Gulfport contends in the federal …

Federal Judge Denies Bid to Remove COVID-19 Business Interruption Suit

A federal judge in California disappointed a law firm suing Travelers Insurance over coronavirus lockdown related business interruption claims in refusing to remove its case to state court and denying its request for a dismissal or stay of a countersuit …

April Shutdown To June Flowering? Rise in Foot Traffic Competes With Virus

If April was the month Americans hunkered down at home to fight the coronavirus pandemic, June may prove the month they officially lost patience, venturing back to restaurants, beauty salons and other socially dense activities that hinted at an economic …

Business Owners Shut Doors or Turn to Telephone Sales During Pandemic

LAKE CHARLES, La. — After the mandatory shutdown of nonessential businesses in Louisiana during this coronavirus pandemic, several small business owners have been faced with making a new way of life. Two local businesses — Bauhaus Salon and Haus Spa …

Allianz: Facilities Shut Down During Virus Shutdown Pose New Risks

Many companies are having to shutdown their premises temporarily at short notice due to the Covid 19 pandemic. According to the risk consultants of Allianz Global Corporate & Specialty (AGCS), improper action or negligence when decommissioning buildings and production facilities …

Viewpoint: Keeping Your Cases Moving During the COVID-19 Crisis

Many subrogation professionals will find themselves working from home in the near future. While much can be accomplished from a computer keyboard, there are certain activities essential to investigating and litigating subrogation files which are going to mandate a creative …

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 …

Massive Exxon Refinery Fire Poses a New Threat to Oil Demand

A fire broke out early Wednesday at Exxon Mobil Corp.’s Baton Rouge oil refinery in Louisiana, halting production at the fifth-biggest fuel-making plant in the U.S. The outage at the massive complex — which supplies fuels across the southeast U.S. …