News & Analysis as of

Business Interruption

Hurricane Irma – Commercial Property Damage and Business Interruption Insurance Checklist

by McGuireWoods LLP on

Hurricane Irma was one of the most devastating storms in United States history, with sustained winds of over 190 miles per hour. Insurance industry experts have estimated the insured damages arising from this storm may reach...more

Losses Caused by Hurricanes: Are You Covered?

by K&L Gates LLP on

This hurricane season represents the first time in the history of record keeping that two Category 4 or higher hurricanes, Harvey and Irma, have struck the U.S. mainland in the same year. Within a month, Hurricanes Harvey and...more

Hurricane Recovery Client Alert: Natural Catastrophe Insurance Claims

by Morgan Lewis on

Insurers and policyholders should heed the critical insurance issues that arise in the aftermath of natural disasters....more

Understanding Business Interruption Insurance and Wide-Impact Catastrophes

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

Why Do I Have A Hurricane Harvey Claim From Hoboken?

by Zelle LLP on

As businesses and insurers sort out the impacts of Hurricane Harvey, it will take time to assess the physical damage and resulting business interruption losses. Invariably, however, business interruption impacts from Harvey...more

Hurricane Harvey and Irma: Is Your Company Prepared for a Disaster? 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 policies cover those risks in order to manage them and maintain...more

Hurricane Irma: Maximizing Insurance Recoveries

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

Hurricane Irma: Take A Hard Look At Force Majeure Clauses And Your Business Risks

With Hurricane Irma approaching Florida, people are naturally focused on preparations for its arrival and the potential adverse impacts that it will have. For businesses, that should include analysis of contractual...more

What California Businesses Can Learn From Hurricane Harvey

by Allen Matkins on

Texas and Louisiana have yet to dry out from Hurricane Harvey, and Hurricane Irma, a Category 5 storm, is barreling toward Puerto Rico and the U.S. mainland, followed in short order by Hurricane Jose. According to the United...more

New Law That May Affect Hurricane Harvey Claims Takes Effect Sept. 1

by Holland & Knight LLP on

While insurance claims may be far from the first priority for clients affected by Hurricane Harvey, a new law takes effect on Sept. 1, 2017, that may affect first-party property insurance claims stemming from Harvey, floods...more

Hurricane Harvey: Insurance Implications [Updated]

Hurricane Harvey and its associated rainfall have simply devastated much of southeastern Texas. Many areas were left inaccessible, or without water or power services. Evacuation and curfew orders limited travel and...more

Maximizing Insurance Recoveries for Hurricane Harvey Losses

by Jones Day on

With Hurricane Harvey having pummeled much of the Texas Gulf Coast, businesses will soon look to secure insurance recoveries for the estimated billions of dollars in property damage and business income losses left in its...more

HB 1774’s “Hail Bill” and Hurricane Harvey-Time for Action

• Action Item #1: Insureds should try to report claims for all property damage, including those caused by Hurricane Harvey, by no later than August 31, 2017, in order to avail themselves of the opportunity for an 18 percent...more

What a New Texas Insurance Law Means, and Doesn’t Mean, for Harvey’s Victims

As Hurricane Harvey continues to wreak historic damage in Texas, recent updates to a state law dealing with the responsibilities of insurers are scheduled, by sheer coincidence, to take effect this Friday, September 1, 2017....more

Hurricane Harvey: Helpful Insurance Information and FAQs

by Jackson Walker on

Our hearts and thoughts go out to all of our employees, clients, and friends affected by Hurricane Harvey and the devastation caused by the storm. Your personal safety, and that of your family and loved ones, is our top...more

No More Tears: Insurance Coverage For The "WannaCry" Ransomware Attack

by Jones Day on

This month's WannaCry "ransomware" attack—the first truly global incident of its kind—is believed to have affected at least 300,000 computers in over 150 countries, claiming among its victims many large corporations and...more

Winery, Vineyard Cyber Attack Risk Grows With Web-Connected Systems

In the internet of things (IoT), new opportunities for efficiency continually bring new cyber risk. If a device in your winery or vineyard connects to the internet, it is vulnerable. And so is the rest of the system connected...more

Infrastructure Crisis Management: Maximizing Insurance Coverage for Business Interruption Losses Caused by the I-85 Bridge...

by King & Spalding on

Atlanta’s traffic woes are hardly newsworthy, but last week’s I-85 bridge collapse is resulting in traffic headaches that could cause local businesses and the logistics industry to suffer millions of dollars in business...more

I-85 Bridge Collapse: Business Interruption Coverage Issues

by Carlton Fields on

In the wake of the March 30 collapse of the I-85 bridge in Atlanta, Georgia Governor Nathan Deal declared a state of emergency calling for closure of both the northbound and southbound lanes of I-85 in Fulton County. A copy...more

Am I Covered Now!

by Poyner Spruill LLP on

The cybersecurity breaches rippling through the global economy create enormous costs for the affected businesses and organizations. As a result, many companies are focusing increased attention on obtaining insurance coverage...more

California’s Storms Are Not California Dreaming

- 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

Increased Enforcement Highlights The Need For Employers To Have Immigration Compliance Programs

by Butler Snow LLP on

This past weekend the United States Immigration and Customs Enforcement (ICE) launched raids in Los Angeles, Atlanta, Chicago, New York, North Carolina, and South Carolina arresting hundreds of undocumented immigrants. While...more

Insurer’s Denial of Mitigation Claim for Extra Costs to Prevent Cancellation of Contract Upheld

by Cozen O'Connor on

Many property insurance policies that provide coverage for business interruption losses also include “extra expense” coverage for reasonable and necessary extra costs to temporarily continue as nearly as possible normal...more

Insurance When the Internet Goes Down

Business interruption coverage is now a staple of many companies’ insurance programs. One of the “optional” first-party property coverages included in standard property policies, it is intended to compensate companies for...more

Insurance Coverage for Lost Profits Arising from Cyber Attacks on the U.S. Power Grid – Contingent Business Interruption Coverage...

by McGuireWoods LLP on

The Washington Post reported Friday that Russian hackers had penetrated the U.S. utility grid through Burlington Electric, a Vermont utility. Although the utility later clarified that the attacked computer was not connected...more

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Cybersecurity

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