Business Interruption

News & Analysis as of

Alberta Wildfires – Insurance for Financial and Other Losses of Affected Companies

Companies potentially affected by the Alberta wildfires should be conducting a prompt review of potentially applicable insurance coverage, especially under policies that provide coverage for business interruption and loss of...more

Hurricane Season: Time to Determine Whether You're Covered for Weather

June 1 brings the beginning of the 2016 hurricane season. These storms have the potential to cause devastating damage for companies who own property such as apartment buildings, hotels, factories, retail outlets, warehouses...more

Maximizing Insurance Recovery For Businesses Impacted By Recent Natural Disasters

There has been a spate of natural disasters throughout the world recently—from major earthquakes in Japan and Ecuador to torrential rainfall and flooding in Texas. These events have had devastating consequences, including the...more

International News: Focus on Real Estate - April 2016

New UK Requirement to Publish Annual Slavery and Human Trafficking Statement - The United Kingdom’s Modern Slavery Act 2015 requires large commercial organisations operating in the United Kingdom to publish a “slavery...more

Undead as a Service: Tips to Help Ensure Your IT Agreements Can Withstand a Zombie Apocalypse

Do the undead read the small print? In our experience, zombies are typically more concerned with fresh brains than with forum selection, but Amazon Web Services (AWS) has helpfully updated its AWS Service Terms for anyone who...more

Employees Traveling Internationally? Read This.

Does your business depend on the international travel of its employees? What would happen to your business if one of your key employees couldn’t get a passport? Beginning this year with the FAST Act, the State Department may...more

Insurer Prevails on Rescission Claim Against H.J. Heinz Co.

On February 1, 2016, Judge Arthur J. Schwab of the Western District of Pennsylvania overrode a jury verdict and ruled that Starr Surplus Lines Insurance Company (Starr) can rescind its policy covering H.J. Heinz Co. for up to...more

As Winter Storm Jonas Bears Down, Businesses Should Seek To Protect Their Insurance Rights

While this year’s winter has been relatively mild for the East Coast, Winter Storm Jonas is expected to produce prolific amounts of snow in parts of the East, rivaling infamous snowstorms of the recent past. While the...more

Insurance Coverage Issues for Hotel and Apartment High-Rises Damaged by Fire

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

The Paris Agreement and Business Interruption Coverage

“In this world, nothing can be said to be certain, except death and taxes." — Benjamin Franklin On Dec. 12, 2015, in LeBourget, France, world leaders announced an agreement on a climate change accord which they touted as...more

Federal Appeals Court Emphasizes the Importance of Enforcing Contractual Limitations on Consequential Damages

A recent federal court of appeals decision endorses consequential damages exclusions in commercial contracts, and makes clear that such limitations are enforceable under North Carolina law. The United States Court of...more

Coverage for Business Interruption in Cyber Occurrences

Among the most critical cyber risks facing policyholders is the risk of business interruption in the event of a network breach or other cyber event. In our experience, the costs related to business interruption potentially...more

Taking a Security Interest in Insurance

How many of your business and corporate customers carry business interruption insurance? For those that do, what steps, if any, have you taken when extending credit to obtain a security interest in the borrower’s business...more

South Carolina’s 1,000-Year Flood Requires Immediate Recovery Action

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

Food Recall Events: The Importance of Evaluating Your Insurance Coverage Before a Voluntary and Mandatory Food Recall

Food recalls are on the rise as consumer protection regulations become more stringent, and they can be costly events. There can be significant expenses associated with removing impacted products from stores; reimbursing...more

Business Loss Insurance Coverage for Port Explosions in China

Massive explosions occurred at a warehouse in Tianjin, China, in August 2015, that left hundreds of people dead or injured and destroyed much of the city’s port facilities. Tianjin is located in the industrial north of China...more

Insurance Chain Reaction from the Tianjin Port Explosion

The recent Tianjin port explosion, like the 2011 Japanese earthquake and Thai floods, will lead to massive supply chain disruption. The impacted area included a high concentration of multinational and technology companies....more

Business Interruption Insurance: Why You Need It and How You Can Maximize Your Coverage

In his recent blog post on disaster planning for businesses, Foley associate Nicholas E. Williams noted: “Business interruption insurance, which covers the loss of income suffered by a business after a disaster, plays an...more

Maximizing Business Insurance Coverage Benefits After a Fire

If your business has sustained a fire loss, below are steps for you to take in working with your insurers to ensure that you receive the maximum benefits under any applicable insurance policies. Step 1 – Locate Insurance...more

Legal Considerations in Businesses’ Disaster Planning

In the last decade, Disaster Recovery (“DR”) and Business Continuity Planning (“BCP”) have become “hot” topics, as companies attempt to deal with disasters and the associated business risks. “Force majeure” is a legal concept...more

Maximizing Insurance Recovery for the Tianjin Port Explosions

On Wednesday, August 12, 2015, two massive explosions devastated large swaths of Tianjin, China, an industrial powerhouse and home to one of the world’s busiest ports. The explosions, which reportedly have killed more than a...more

Cybersecurity Update - July 2015

Employees are the front line of your information security defense. While technological protections are essential (for example, anti- virus software, firewalls, spam filters, etc.), none are as effective as a vigilant end...more

Texas Floods: What You Need To Know About Your Insurance

Texas has recently suffered historic flooding, causing tremendous damage and destruction in areas affected by heavy rain and floodwaters. Because of the damage sustained, commercial policyholders may have significant...more

Will Insurers Respond To The Texas Floods?

May 2015 was a month of record rain for Texas. Meteorologists reported that in May alone, 37.3 trillion gallons of water fell in Texas — enough to cover the entire state with 8 inches of water. The nonstop barrage has caused...more

Weathering The Recent Storms in Texas: How to Compensate Employees for Lost Time

In the wake of Houston’s recent flooding, countless businesses closed their doors, and many individuals are coping with homes in disrepair. Texas employers wondering whether they must pay workers for lost time during...more

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