As summer vacation rolls around and hotels, restaurants and other hospitality companies gear up for a busy tourist season, coastal businesses in the U.S. Southeast, Puerto Rico and the Caribbean may be welcoming an unexpected...more
Hurricane Ian struck Florida on September 28. By late afternoon, it was a Category 5 storm with top winds of 155 miles per hour, producing huge storm surges along a wide area of the state’s southwestern coast. Damage is...more
9/30/2022
/ Business Interruption ,
Commercial Insurance Policies ,
Documentation ,
FEMA ,
Hurricane Season ,
Infrastructure ,
Insurance Claims ,
Insurance Industry ,
Loss Mitigation ,
Natural Disasters ,
Property Damage ,
Property Insurance ,
Reimbursements ,
Severe Weather
In Novant Health, Inc. v. American Guarantee and Liability Insurance Co., Judge Catherine C. Eagles of the U.S. District Court for the Middle District of North Carolina made the right call by allowing a large hospital system...more
The presence of virus on the premises that renders the property unsafe can cause physical loss or damage and trigger property coverage without any distinct, demonstrable physical alteration.
Juries, not judges, get to...more
Category 4 Hurricane Ida cut a destructive swath from Louisiana to New York, and Tropical Storm Nicholas bears down on the Gulf Coast. Those in the affected area should prepare for insurance recovery.
Category 4 hurricane...more
Responding to the Texas Winter Storm Crisis: Issue 2—Winter storms and wide-area events like the one that recently devastated Texas leave behind challenging questions about business interruption insurance...more
Responding to the Texas Winter Storm Crisis: Issue 1 -
The world is witnessing yet another dramatic weather event, this time in the southern states, especially Texas. The severe winter conditions in Texas have caused...more
2/23/2021
/ Business Interruption ,
Commercial Insurance Policies ,
FEMA ,
Insurance Claims ,
Natural Gas ,
Power Grid ,
Presidentially-Declared Major Disaster Area (PDMDA) ,
Proof of Loss ,
SBA ,
Severe Weather ,
Texas
“Service of Suit” limitation period to file is less than a month away -
Many insurance policies have various limitation periods and exclusions built into them. One such limitation period is known as a “service of suit”...more
Category 4 Hurricane Laura strikes Louisiana coast, causing significant damage. Those in the affected area should prepare for insurance recovery.
Historical Category 4 hurricane with sustained top wind speeds of 150 mph...more
Policyholders can expect insurers to put forth strong objections to many of their claims in an effort to reduce the liability exposure.
Policy language matters and can impact how a court will interpret and construe coverage....more
Affected businesses and other organizations should take immediate and proactive steps to maximize insurance recovery.
Gather insurance policies, as well as binders, and save them electronically or take them to an...more
Storms like the one that recently caused widespread devastation in the Carolinas leave behind challenging questions about business interruption insurance coverage.
Quantifying a policyholder’s business interruption loss is...more
In the wake of Hurricane Florence, a thorough understanding of the coverage available, the facts surrounding the loss, and the applicable law can often be key to maximizing insurance recovery.
Sub-limits for flood and...more
The Property and Business Interruption Insurance Checklist -
An unexpected or catastrophic loss can force any company out of business, even if it is insured. You must understand your company’s risks and how your insurance...more
In the wake of Hurricanes Harvey and Irma, policyholders can expect insurers to put forward strong objections to some of the most consequential claims asserted by insureds. -
Takeaways -
In construing policy language...more
9/15/2017
/ Business Income ,
Business Interruption ,
Commercial Insurance Policies ,
Contract Terms ,
Homeowner's Insurance ,
Hotels ,
Hurricane Harvey ,
Hurricane Irma ,
Insurance Claims ,
Policy Terms ,
Proof of Loss
An unexpected or catastrophic loss can force any company out of business, even if it is insured. You must understand your company’s risks and how your insurance policies cover those risks in order to manage them and maintain...more
9/11/2017
/ Business Interruption ,
Claim Procedures ,
Commercial Insurance Policies ,
Hurricane Harvey ,
Hurricane Irma ,
Insurance Claims ,
Natural Disasters ,
Notice Requirements ,
Proof of Loss ,
Property Damage ,
Property Insurance ,
Supply Chain
Hurricane Irma’s epic scope and wind speed suggest that affected businesses and other organizations take immediate and proactive steps to maximize insurance recovery....more
9/7/2017
/ 501(c)(3) ,
Business Interruption ,
Commercial General Liability Policies ,
Documentation ,
Duty to Mitigate ,
FEMA ,
Flood Insurance ,
Hurricane Irma ,
Insurance Claims ,
Natural Disasters ,
Notice Requirements ,
Property Damage ,
Property Insurance ,
Suppliers
- It is essential to keep track of deadlines mandated under policies.
- Keep in mind that several types of insurance—not just property insurance—may cover flood and storm-related losses (such as property damage, loss of...more
3/1/2017
/ Business Interruption ,
Commercial Insurance Policies ,
Critical Infrastructure Sectors ,
Federal Grants ,
FEMA ,
Flooding ,
Loss Mitigation ,
Notice Requirements ,
Proof of Loss ,
Property Damage ,
Property Insurance ,
Record Preservation ,
Storm Water ,
Wind Damage
After tearing through the Caribbean, Hurricane Matthew’s path brought it north to the Southeastern coast of the U.S., bringing evacuations, business closures and damages to the region. Florida, Georgia, South Carolina and...more
10/11/2016
/ Business Interruption ,
Commercial Insurance Policies ,
Expert Reports ,
FEMA ,
Homeowner's Insurance ,
Hurricane Matthew ,
Loss Mitigation ,
Popular ,
Proof of Claims ,
Property Damage ,
Property Insurance ,
Supporting Documentation ,
Written Notice
Just before fireworks exploded across the sky to usher in 2016, a massive fire engulfed the Address Downtown Hotel in Dubai. At nearly 1,000 feet tall, this five-star hotel and luxury apartment building —with about 200 hotel...more
South Carolina was recently pummeled by a devastating storm that Governor Haley described as happening “once in a thousand years.” Compounding the resultant flooding, many dam breaks exacerbated the catastrophic losses South...more