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Business Interruption Property Insurance Policy Terms

Bradley Arant Boult Cummings LLP

Sunscreen Is Not the Only Key to Avoid Getting Burned This Summer: The Importance of a Mid-Year Review of Your Insurance Policies

Summertime. The kids are getting out of school. Maybe you have a vacation planned. Down here in Florida, we make early preparations for the annual “it’s going to be the worst hurricane season on record” reports...more

Jones Day

What About Your Suppliers? Insuring Against Climate Risks to Your Supply Chain

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More than 20 storms—11 of which will become hurricanes, and 5 of which will become Category 3 or greater hurricanes. That's one prediction for the Atlantic hurricane season. Not to worry, you say. Your operations are located...more

K&L Gates LLP

Extreme Weather and Natural Disasters - Insurance Tips for Commercial Policyholders

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Storms and hurricanes, isolated but powerful tornados, earthquakes, fires, and floods—the question is not whether, but where and when policyholders will confront the next natural disaster. Climate change is clearly having an...more

Zelle  LLP

The Key Bridge Tragedy: What Loss Of Income Coverages Will Apply?

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At 1:29 am on March 26, 2024, a cargo ship collided (or, more accurately, allided) with the Francis Scott Key Bridge near Baltimore, Maryland. The bridge fell into the Patapsco River in a matter of seconds, immediately...more

Kennedys

Oklahoma Supreme Court joins majority of COVID-19 decisions and finds for insurer in COVID-19 coverage dispute with Cherokee...

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The Oklahoma Supreme Court is the most recent state high court to hold that property insurance policies do not provide coverage for COVID-19 related business interruption losses. In Cherokee Nation v. Lexington Insurance...more

Butler Weihmuller Katz Craig LLP

Bracing for Fiona – A pre and post analysis of hurricane risk in Puerto Rico and the Caribbean

How can carriers prepare for what is to come after Fiona’s direct impact on Puerto Rico? First and foremost, carriers should begin securing and mobilizing an adequate roster of independent adjusters, ready to respond to...more

Saul Ewing LLP

Dismissals of COVID-19 Business Interruption Claims Upheld by Appellate Courts

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Property insurers faced with COVID-19 related claims for business income losses can take comfort in the recent trend of most appellate courts to find in favor of insurers that have denied coverage based on policy language...more

Lowndes

Are Economic Losses Caused by COVID Shutdowns Recoverable Under Commercial Property Insurance Policies

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As we have previously written, whether economic losses caused by COVID shutdowns can be recovered under commercial property insurance policies is a hotly-contested issue. (Past articles include, ‘Will Your Business...more

Hinshaw & Culbertson - Insights for Insurers

Part Three: Reviewing Key U.S. Insurance Decisions, Trends, & Developments

COVID-19 Business Interruption Coverage Litigation - This is the third installment of our series of articles reviewing some of the key trends and developments currently impacting the U.S. insurance industry. The issuance...more

Bricker Graydon LLP

The Sixth Circuit keeps the insurers’ COVID-19 coverage streak alive: Insurers 3-0

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In Santo’s Italian Café v. Acuity Ins. Co., __ F.4th __, 2021 WL 4304607 (6th Cir. September 22, 2021), the Sixth Circuit held that the phrase “direct physical loss of or damage to” property requires some tangible alteration...more

Jones Day

Maximizing Insurance Recoveries for Hurricane Ida Losses and the Remainder of the 2021 Hurricane Season

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With Hurricane Ida having battered Louisiana, Mississippi and various other states, businesses will soon look to secure insurance recoveries for the significant property damage and business income losses left in its wake....more

Burr & Forman

Uphill Battle Awaits COVID-19 Business Insurance Claimants as the Debate Moves up to Appellate Courts

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A majority of trial courts adjudicating COVID-related property insurance coverage lawsuits have found that coverage is not triggered absent direct physical loss or property damage. ...more

Carlton Fields

New Jersey Federal Court Holds Virus Exclusion Bars Coverage for Car Dealerships’ COVID-19 Losses; Rejects Public Policy Argument...

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We previously described a proposed New Jersey bill that was introduced to the state assembly in March 2020 that would require insurers to cover business interruption losses related to the novel coronavirus pandemic. Almost a...more

UB Greensfelder LLP

The Northern District of Ohio Provides More Clarity On COVID-19 Related Business Interruption Claims

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Two more federal court judges in the Northern District of Ohio have weighed in on whether insurance carriers in the cases pending before them must cover claims for damages caused by the COVID19 pandemic. In both cases, the...more

Zelle  LLP

The Financial Conduct Authority v. Arch and Others [2021] UKSC 1 (“the FCA Test Case”)

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On 15 January 2021 the UK Supreme Court handed down its highly anticipated judgment in the FCA Test Case. The COVID-19 pandemic has forced the UK Government to introduce public health measures which have resulted in...more

Goodwin

COVID-19 Business Interruption Suits: An Overview Of Decisions To Date

Goodwin on

The ongoing COVID-19 pandemic has impacted the United States economy in a profoundly negative manner. Retail stores, restaurants and other direct-customer-facing businesses have been especially hard hit. Throughout the U.S.,...more

Gould + Ratner LLP

Policyholders See New Developments in COVID-19 Case Law

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Insurers across the nation continue to file motions to dismiss COVID-19 cases brought by policyholders on three primary grounds: 1. there is no” physical loss or damage” to the covered property, 2. there is no “prohibition...more

Lathrop GPM

Missouri Federal Court Opens Door to COVID-19 Business Interruption Claims

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On August 12, 2020, U.S. District Court Judge Stephen Bough for the Western District of Missouri ruled that the plaintiff insureds may pursue claims for business income losses due to COVID-19 under standard property and...more

Verrill

Does a property insurance policy still provide coverage if a business does not reopen after the COVID-19 Stay At Home Orders are...

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Most property insurance policies in today’s market include a provision that causes coverage to lapse if the property is vacant (as defined by the policy) for a period in excess of 30 days. Fortunately, insurers have generally...more

Stinson LLP

Insurance Coverage for Protest-Related Property Damage & Civil Closure Orders

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As riots have swept across our cities, businesses have suffered direct property losses, including looting, broken storefront glass and signage, damaged inventory and business property, and smoke and fire damage. Businesses...more

Burr & Forman

White Paper: Commercial Property Insurance Claims in Response to COVID-19

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Nearly every business and not-for-profit in the country has been impacted by the ongoing COVID-19 pandemic. Demand for goods and services has dropped precipitously due to stay-at-home orders, public health recommendations,...more

Eversheds Sutherland (US) LLP

COVID-19-related insurance regulatory developments

The COVID-19 pandemic has prompted a significant amount of insurance regulatory activity for both life and property & casualty insurers. This alert summarizes the current state of some of the most notable COVID-19-related...more

Nelson Mullins Riley & Scarborough LLP

Best Practices for Investigating and Assessing Insurance Coverage for Business Interruption Losses

No pandemic has impacted the global and US economies on such a scale in so short a period of time as COVID-19. The effects of the virus and business disruptions are being felt across all industry sectors. ...more

Saul Ewing LLP

State Business Interruption Coverage Bills Likely Contain Constitutional Infirmities

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We have recently learned that a number of states were or are considering legislation to mandate that insurers who issued policies to small businesses in those states must accept and cover risks that were not within the scope...more

Cole Schotz

Business Interruption Insurance Update: State Legislatures Taking Steps To Protect Businesses Impacted By COVID-19 Losses

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In our most recent post, we addressed the New Jersey Legislature’s attempt to override terms and exclusions embodied in virtually all commercial Business Interruption Insurance policies including the “virus” exclusion and the...more

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