“An event cancelled is better than a life cancelled,” according to World Health Organization Director-General Tedros Adhanom Ghebreyesus when speaking in December 2021 in response to the spread of the COVID-19 Omicron...more
On November 2, 2021, New York Congresswoman Carolyn Maloney reintroduced the Pandemic Risk Insurance Act (“PRIA”) in the U.S. House of Representatives. PRIA would create the Pandemic Risk Reinsurance Program (the “Program”),...more
Cardboard Cutouts And Pandemic Exclusions—amidst COVID-19, The Market Is Adjusting And Carefully Reviewing Event Cancellation Policies In The Sports Industry....more
Major League Baseball (MLB) is scheduled to begin its COVID-delayed season on July 23, but the MLB teams’ Minor League counterparts will have no 2020 campaign. Their season has been canceled. Many Minor League teams are now...more
For companies forced to postpone or cancel live events during the coronavirus (COVID-19) pandemic, event cancellation insurance may serve as a way to protect assets and mitigate losses....more
The World Health Organization’s (“WHO”) formal declaration that the spread of the novel coronavirus COVID-19 is now a pandemic, with 1,844,863 confirmed cases, 117,021 confirmed deaths, and 213 affected Countries as of April...more
As COVID-19 leads to event cancellations worldwide, the insurance market is scrambling to minimize its financial exposure to event cancellation claims. Although we have seen event policies with COVID-19 exclusions and others...more
It is an understatement to say that the foothold the 2019 Novel Coronavirus (COVID-19) has gained in the U.S. and resulting government mandates have developed at a rapid pace. Two weeks ago, companies were open for business,...more
As noted in our previous Legal Alerts concerning insurance coverage for coronavirus related issues, as businesses are forced to close, travel is restricted, and supply chains are disrupted, COVID-19 insurance claims will...more
It is difficult to overstate the immediate impact of the COVID-19 outbreak on American business, and indeed on American life. No event of the last century, save two World Wars, the Spanish Flu of 1918, and the 9-11 terrorist...more
As the events surrounding the COVID-19 pandemic unfold, the insurance industry is bracing itself for the multitude of claims it will inevitably face. To maximize potential coverage, policyholders can and should act now to...more
As the coronavirus outbreak continues to wreak havoc on markets and industries in the U.S. and around the world, businesses are now confronting significant and unique challenges. Successful navigation of these challenges...more
With the spread of Coronavirus (COVID-19) in the United States, many of our clients are facing the mass cancellation of events and damaging service interruptions. This disruption can cripple one’s business, so clients are...more
The World Health Organization has labelled novel coronavirus (COVID-19) a pandemic and the global number of confirmed cases of COVID-19 has surpassed 150,000. Companies suffering losses that they believe are attributable to...more
The coronavirus (provisionally named SARS-CoV-2, with its disease being named COVID-19) has now been documented in more than 100 countries and territories. Over 120,000 cases have now been documented across the globe,...more
With significant business disruptions occurring as a result of coronavirus (COVID-19), companies should consider how insurance coverage, including business interruption, supply chain, and event cancellation coverage, can help...more
Event cancellation insurance policies might well cover the significant financial losses that will result if an entertainment or sporting event is cancelled due to the coronavirus. Event cancellation insurance policies...more
As the economic and social impacts of COVID-19 continue to grow, the costs and consequences of an interruption of a party's ability to operate its business or fulfill its contractual obligations are rising rapidly. Many...more
As the coronavirus, COVID-19, continues to spread, organizations around the globe are facing mounting business disruptions and economic losses. Some of these entities may seek coverage for these losses under a variety of...more