All the headlines from our Business Interruption Topic Page, ordered by recency.
Apr 2 2020 // COVID-19 could produce a big increase in social inflation, according to A.M. Best. The reason: expectations that businesses will sue their insurers in an attempt to access their business interruption coverage for losses...
Mar 31 2020 // Massachusetts is one of the latest states to propose legislation that would mandate insurers cover COVID-19 related business interruption claims despite virus exclusions in many policies.This comes as Insurance Journal...
Mar 30 2020 // The property/casualty industry estimates that business interruption losses from the coronavirus just for small businesses in the U.S. could be between $220-$383 billion per month — or a quarter to half of the total...
Mar 30 2020 // Two Democratic state representatives in Ohio have filed a bill in the General Assembly that would require insurers that provide business interruption insurance to cover losses that arise from viruses and pandemics,...
Mar 27 2020 // A well-known California restaurateur 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...
Mar 27 2020 // California Insurance Commissioner Ricardo Lara has directed insurance companies to submit data to the California Department of Insurance regarding coverage of commercial business interruption related to COVID-19.It is...
Mar 26 2020 // An attorney who represented victims of the Las Vegas shooting massacre has filed a federal lawsuit against China’s government over the new coronavirus, saying that officials hid information about the outbreak and...
Mar 26 2020 // Silence may be deadly for property/casualty insurers writing commercial insurance, an executive of an insurtech that specializes in analyzing insurance policy language suggested recently, explaining that without specific...
Mar 25 2020 // As insurers continue to monitor the spread and impact of COVID-19, insurance regulators across the East region of the U.S. are issuing guidance on how the industry can respond.“There is almost no aspect of the...
Mar 25 2020 // As state insurance regulators monitor and respond to the coronavirus impact on insurance, property/casualty insurers are calling on them to coordinate their requests for data and ease up on some requirements.David A....
Mar 24 2020 // 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...
Mar 24 2020 // Over the past two weeks, the VU has received countless questions concerning COVID-19 (the coronavirus) and the business income policy. As authorities require businesses to limit activities or shut down completely, the fear...
Mar 24 2020 // On March 16, a lawsuit was filed in district court in New Orleans seeking a declaratory judgment about whether the business income coverage in a Lloyd’s property policy would cover a government-mandated shutdown or...
Mar 23 2020 // Remote Work Not Much Help for Assembly LinesProperty/casualty insurance professionals are trying to provide advice and empathy to their manufacturing clients coping with the effects of the spread of the coronavirus. But...
Mar 20 2020 // Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result of the coronavirus outbreak because pandemic-related claims are excluded from most business interruption...
Mar 20 2020 // While legislators in Washington and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty...
Mar 20 2020 // A bipartisan group of U.S. House members has asked insurers to retroactively recognize financial losses relating to COVID-19 under commercial business interruption coverage for policyholders.Eighteen House members made...
Mar 20 2020 // The New York State Department of Financial Services (DFS) has instructed insurers to submit details of business interruption policies that have been provided to insureds, as well as the coverage each policy offers...
Mar 20 2020 // Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact...
Mar 19 2020 // The original property/casualty insurance industry reaction that business interruption losses may be modest may have been too optimistic, according to a leading insurance analyst.KBW’s Meyer Shields believes that the...