All the headlines from our Business Interruption Topic Page, ordered by recency.
Oct 30 2020 // The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its...
Oct 26 2020 // Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently.BI coverage has drawn heightened attention in recent months due to...
Oct 23 2020 // A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit.Superior Court Judge Orlando F. Hudson...
Oct 23 2020 // A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit.Superior Court Judge Orlando F. Hudson...
Oct 22 2020 // Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to the brink of collapse...
Oct 20 2020 // The tenth year of the Zurich North America and Advisen Cyber Survey reveals that 78% of risk managers now purchase some level of cyber insurance — compared to only 34% in 2011.Of this record of 78% with some cyber...
Oct 5 2020 // Insurers have succeeded in dismissing COVID-19 business-interruption lawsuits in 17 out of 23 cases heard so far, with a growing number of judges finding that some tangible alteration of a property is required to trigger...
Oct 5 2020 // A test case brought by Britain’s markets regulator against some of the world’s biggest insurers will jump straight to the Supreme Court after London’s High Court agreed to a fast-track appeal on...
Oct 4 2020 // A panel of federal judges has decided against consolidation of hundreds of lawsuits seeking coverage for coronavirus-related business interruption claims against major national insurers Travelers, The Hartford, Cincinnati...
Oct 2 2020 // Agility Recovery, a Denver-based provider of business continuity services for banking and insurance companies, has acquired Chicago, Illinois-based Recovery Solutions.Recovery Solutions delivers audit-ready and Federal...
Sep 30 2020 // Agents and brokers should be on alert that plaintiffs’ attorneys in COVID-19 related business interruption claims lawsuits may be eyeing them as more cases against insurance companies begin to fail and claimants...
Sep 29 2020 // Britain’s financial regulator said on Tuesday it had filed for an expedited appeal in a business interruption test case against insurers, but was seeking an agreement by Wednesday to avoid the appeals process...
Sep 23 2020 // Back in March and April, I gave two webinars on COVID-19 for the Academy of Insurance.If you haven’t had a chance to take those, click here to get the Academy of Insurance COVID-19 related classes. One of the topics...
Sep 21 2020 // To analyze the business income policy’s response to the crossover of an excluded event and a covered event, we begin with the Business Income Insuring Agreement found in Insurance Services Offices (ISO’s)...
Sep 21 2020 // In a follow-up to the High Court’s ruling on coronavirus-related business interruption claims by businesses, the UK’s Financial Conduct Authority (FCA) is advising insurers that they must pay all valid claims...
Sep 21 2020 // Agents and brokers should be on alert that plaintiffs’ attorneys in COVID-19 related business interruption claims lawsuits may be eyeing them as more cases against insurance companies begin to fail and claimants...
Sep 15 2020 // The Financial Conduct Authority said today’s High Court judgment in its coronavirus business interruption insurance test case found in favour of policyholders on the majority of the key issues.“Our aim...
Sep 15 2020 // Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s Financial Conduct Authority (FCA) to clarify insurance coverage for COVID-19 related business interruption...
Sep 15 2020 // London judges have ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic, Britain’s Financial Conduct Authority...
Sep 9 2020 // Another federal court has dismissed a COVID-19 business interruption lawsuit, finding that a closure order does not constitute a covered “direct physical loss” and that the policy excluded damages caused by...