Business Interruption

News & Analysis as of

Sizing Up Cyber Risks after the Sony Breach

Sony’s most recent data breach underscores the difficulties in underwriting and insuring cyber risk. Sony incurred losses that were surprising in both their scope and type. The company already is a defendant in at least four...more

The Duties Of An Insurance Broker When Placing Business Interruption Insurance

What does your CFO/risk manager know about BI insurance? - The English court clarifies the extent of an insurance broker’s duties owed to a commercial client when placing Business Interruption insurance and confirms it...more

As the Snowfall Comes to an End, Buffalo, New York Area Businesses Should Seek To Protect Their Insurance Rights

The Buffalo, New York, area has been devastated with record-setting levels of snowfall. In just a few days, the area has received a year’s worth of snow, with more than seven feet in some places. The heavy snow has led to...more

The Northern District of Indiana Holds That Loss Reserve Information Qualifies as Protected Work Product.

In G&S Metal Consultants, Inc. v. Cont’l Cas. Co., 2014 U.S. Dist. LEXIS 151431 (N.D. Ind. Oct. 24, 2014), the district court held that loss reserves generated in anticipated of litigation were protected under the work...more

Property Insurance May Mitigate Ebola-Related Losses

With cases of Ebola now in the U.S., concerns have been raised as to the safety of public places visited by a person infected with the virus. Despite assurances from health officials that it is nearly impossible to contract...more

Ebola Exclusions from Commercial Insurance Policies

Last week we wrote about a new business interruption insurance policy that is being rolled out to healthcare providers which will provide specific coverage for various ebola-related losses. This week we note that some...more

Ebola Scare: Are You Anticipating Your Insurance Risks?

The potential insurance implications of the worldwide Ebola crisis may be as far reaching as the virus itself. In addition to its human toll, businesses should not ignore the potential financial ramifications associated with...more

Business Interruption Insurance for Ebola – Managing Risk for Hospitals and Healthcare Providers

William Gallagher Associates, a Boston-based insurance broker, has announced the rollout of a new policy to cover Ebola-related losses at hospitals and other healthcare providers involved in primary care emergency treatment. ...more

Insurance broker not responsible for setting sum insureds

The UK Queen’s Bench division has recently confirmed that an insurance broker is not responsible for setting sums insured under business interruption insurance. - In Eurokey Recycling Ltd v Giles Insurance Brokers...more

Governor Signs Bill Narrowing Grounds For Business Entity Reinstatement

Over the years, I’ve received several calls asking what can be done when a business entity has been wrongfully terminated. Answering this question became a bit easier in 2006 with the enactment of AB 2588 (Runner) which...more

Insurance Coverage for Businesses Affected by Hurricane Odile

Reports are coming in from Baja California about substantial damages from Hurricane Odile. As of September 15, 2014, the airport in Cabo San Lucas is closed, as are roads up and down the Baja peninsula. While there is no way...more

Business Interruption Insurance: Clearing up the Confusion

In Eurokey Recycling Ltd v Giles Insurance Brokers Ltd [2014] EWHC 2989 (Comm), the English Commercial Court has confirmed the nature of an insurance broker’s duties to its clients when obtaining Business Interruption...more

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

39 Results
|
View per page
Page: of 2