Insurance coverage litigation can be lengthy and is usually complex, and these characteristics are only exacerbated by the need to comply with often arcane state law rules of procedure. New Jersey, long a hotbed of insurance...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
Takeaways
- Companies that suffer cyberattacks can expect not sympathy but scrutiny from legal authorities.
- D&O insurance can cover not only litigation but also investigation costs.
- Strategic negotiation of...more
9/22/2017
/ Attorney General ,
Civil Investigation Demand ,
Cyber Attacks ,
Cyber Insurance ,
Cybersecurity ,
D&O Insurance ,
Data Breach ,
Data Privacy ,
Derivative Suit ,
Errors and Omissions Policy ,
Government Investigations ,
Internal Investigations ,
Legal Costs ,
Personally Identifiable Information ,
Popular ,
Risk Management ,
Risk Mitigation ,
Shareholder Litigation ,
Subpoenas ,
Unfair or Deceptive Trade Practices
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
Are criminal cyberattacks increasing in sophistication and frequency? Yes.
Is every company, in every industry, that collects or stores sensitive customer, employee, or business data vulnerable to cyberattacks?...more
Who’s afraid of New York’s Martin Act? Right now, a lot of Wall Street and energy industry companies, that’s who. Why are they concerned about the Martin Act? Because it grants the New York State Office of the Attorney...more
4/27/2016
/ Attorney General ,
Blue Sky Laws ,
Civil Investigation Demand ,
Climate Change ,
D&O Insurance ,
Energy Sector ,
Errors and Omissions Policy ,
Exxon Mobil ,
Form 10-K ,
Government Investigations ,
Martin Act ,
Peabody Energy ,
Public Statements ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Subpoenas ,
Utilities Sector
A leak of 11.5 million documents from a law firm in Panama may implicate politicians, criminals, and celebrities in sheltering of fortunes in offshore tax havens through the use of shell companies. Called the “Panama Papers,”...more
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 beginning of 2016 brought floods to the Midwest—and, tragically, loss of life and extensive property damage. With the floodwaters now receding and cleanup underway, affected businesses should consider obtaining insurance...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
Welcome to the latest edition of Pillsbury’s Perspectives on Insurance Recovery. As this 2015 edition of Perspectives demonstrates, our team is working on the most challenging issues—from cyber-insurance and complex claims...more
7/21/2015
/ Bad Faith ,
Certificate of Insurance ,
Commercial Property Owners ,
Construction Contracts ,
Cyber Insurance ,
Cybersecurity ,
D&O Insurance ,
Duty to Defend ,
Earthquake Insurance ,
Errors and Omissions Policy ,
False Claims Act (FCA) ,
Indemnification Clauses ,
Insurance Industry ,
Limitation of Liability Clause ,
Litigation Fees & Costs ,
Mergers ,
Notice Requirements ,
Policy Exclusions ,
Professional Liability ,
Property Damage ,
Property Insurance ,
Storm Water ,
Subrogation
The general rule in New York is that a certificate of insurance (COI), by itself, does not provide insurance coverage. That means that businesses that rely solely on COIs as evidence of their status as additional insureds...more
In the wake of Superstorm Sandy, property insurers have repeatedly denied coverage for business owners in lower Manhattan – arguing that ConEd intentionally cut off power to its networks and that flooding damaged ConEd’s...more
A recent decision from an appellate court in Pennsylvania is good news for policyholders who manufacture products, as yet another jurisdiction joins the majority view that product manufacturers may be covered for damage that...more
In a January 2014 decision that may prove valuable to policyholders in their disputes over deductibles, a New York state trial court ruled that the appropriate deductible applicable to an oil terminal operator’s $2.28 million...more