Business Interruption

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Insurance recovery issues following Vietnam unrest

Recent turmoil and violence at manufacturing parks throughout Vietnam over the last few weeks is impacting both local and global manufacturers and the complex supply chains currently utilised by MNCs could mean relatively...more

Lights Out for Policyholders Seeking Business Interruption Coverage Due to Loss of Electricity

Super Storm Sandy caused widespread power outages throughout the New York metropolitan area in late October 2012, rendering it impossible for many companies and firms to conduct business. In Newman Myers Kreines Gross...more

Summary Judgment In Favor Of Broker In Malpractice Case Reversed, Where Special Relationship With Insured May Have Existed

In a case involving alleged broker malpractice with respect to certain underinsured business interruption losses under a commercial property insurance policy, the New York high court reversed a lower appellate court’s...more

Interrupted by Sandy

In Johnson Gallagher Magliery, LLC v. The Charter Oak Fire Insurance Company, 2014 WL 1041831 (S.D.N.Y. Mar. 18, 2014), the United States District Court for the Southern District of New York, granting a motion for partial...more

Fourth Circuit Holds that Contingent Business Interruption Endorsement Does Not Extend to Indirect Suppliers

On February 20, 2014, the United States Court of Appeals for the Fourth Circuit held that a contingent business interruption endorsement did not extend coverage to claims arising out of a business interruption caused by an...more

Insuring Your Business - March 2014

In This Issue: - Is That Covered? Timely Reporting of Food Claims - Business Interruption Coverage for Food Recall Claims - Excerpt from Is That Covered? Timely Reporting of Food Claims - When food...more

Insuring Your Business - March 2014: Business Interruption Coverage For Food Recall Claims

Most insurance coverage is aimed at accidental losses. Policyholders are generally on their own when it comes to economic losses. One important exception to this rule is coverage for business interruption losses. When...more

The Missing Link In Business Interruption Coverage Claims

Suppose you are counsel for a policyholder impacted by a damaging storm, hurricane or other catastrophic event. Your client reports that it sustained property damage and a significant business interruption loss. You are asked...more

Fourth Circuit Rules “Direct” Not Ambiguous; No Coverage for Contingent Business Interruption Loss

In a rare case interpreting insurance coverage for contingent business interruption (CBI), the Fourth Circuit recently held that the term “direct” is not ambiguous as it relates to determining who is a “direct” supplier of...more

GM (Again) Revises Its Terms and Conditions, This Time in Response to Continued Supplier Concerns

In July 2013, GM rolled out major changes to its general terms and conditions for its contracts, imposing the most extensive changes for its suppliers in several decades. On this blog, we covered the changes and extensively...more

Shutting Down a Capital City: How High Will Business Interruption Claims Go?

On Thursday, January 9, 2014, a major chemical spill into West Virginia’s Elk Rivet cut off water to more than 300,000 people in the Kanawha Valley and surrounding nine counties. The chemical leak was from a facility owned by...more

Disaster and Business Interruption Coverages in the Wake of the Polar Vortex

The “Polar Vortex” created severe cold weather conditions and record low temperatures across most of the United States. Many businesses suffered property damage or loss of business as a result of weather-related shut downs,...more

The Calm Before the Storm Is the Time to Consider Insurance Coverage

There were no major hurricanes in 2013. Although the season was projected to be above average in terms of activity, this was the first Atlantic hurri­cane season without a major storm event through the month of November in...more

Insuring Your Business - December 2013: Is That Covered? Food Recall Claims

Insurance Premiums represent the third or fourth highest business expenses for most food manufacturers and distributors. But, even with all of those premium expenses, many food producers and distributors find that their food...more

Muddying the Waters on Policy Stacking Law: Perspectives on Insurance Recovery Newsletter – Summer 2013

In This Issue: - Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance - J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage - Bad-Faith Claims...more

Lives and Businesses Interrupted by Rocky Mountain Floods

Over the past several days, severe flooding has inundated several states in the Rocky Mountain Region. Following the nearly fifteen inches of rain dumped on parts of Colorado, the resulting floods continue to wreak havoc in a...more

Unprecedented Flooding in Alberta, Canada: Insurance Coverage for Property Damage, Loss of Business Income and Extra Expenses

Three days of unusually heavy rainfall has caused extensive flooding in Alberta, Canada. Calgary, the epicenter of Canada’s energy industry, was particularly hard hit, with flooding of the city itself and widespread loss of...more

Losses Caused by Oklahoma Tornadoes: Insurance Coverage Considerations

Perennial hurricanes and typhoons, isolated but powerful tornados, earth-quakes, and floods — the question is not whether, but where and when policy-holders will confront the next natural disaster. In all of these...more

Insurance Coverage For Businesses Affected By The Oklahoma Tornado

Many businesses in Oklahoma have been impacted by the devastating tornado that hit that state on May 20, 2013. Early estimates indicate the tornado caused upwards of $2 billion in damage....more

Three Steps To Protect Against The Costs Of Supply Chain Disruptions Caused By Mississippi River Flooding

In late April 2013, parts of the Mississippi River flooded from an unexpected spate of rainfall that sent the water’s peak, just North of St. Louis, to eleven feet above flood stage. The extreme conditions reportedly caused...more

Hurricane Sandy's Civil Authority Issues Bear Watching by Reinsurers

As both insurers and reinsurers are well aware by now, the destructive path left by Hurricane Sandy in many Northeast states such as New York, Connecticut, and New Jersey was devastating. To date, reports have estimated...more

Only A Matter of Time – Prepare For Geomagnetic Storms

Originally published in Insurance Law360 on February 21, 2013. Geomagnetic storms present a unique risk to power grids, power grid customers and insurers. The modern world, and particularly the East Coast of the U.S., is...more

Ten things to do in the wake of this past weekend's severe winter weather

The recent severe winter weather left behind legal and financial problems even deeper than the snow. But it may also have presented you with resources for help that you weren't previously aware of. Businesses may wish to act...more

Lessons From Past Give Guidance To Sandy-Related Claims

Originally published in Insurance Law360 on January 15, 2013. In the aftermath of Hurricane (or post-tropical cyclone) Sandy, insurers and insureds alike will face a number of complicated insurance coverage issues, to...more

How to Maximize Your Insurance Recovery for Property Damage, Business Interruption, and Supply Chain Losses After Superstorm Sandy

It has now been over a week since Superstorm Sandy decimated the northeastern United States. Major rail, trucking, and shipping portals of the Port Authority of New York and New Jersey were incapacitated for nearly a week,...more

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