The Standard Formula Podcast | Understanding Insurance Resolution Regimes
Steven Hix and G. Benjamin Milam of Bradley discuss a pair of recent North Carolina Supreme Court rulings on coverage for pandemic-related losses, one of which gave policyholders a rare win. On December 13, the North...more
On March 26, a containership struck the Francis Scott Key Bridge in Baltimore, Maryland, resulting in the collapse of the highway infrastructure and tragic loss of life. As communities grieve the loss of their loved ones,...more
All eyes are on the New Jersey Supreme Court as we await oral arguments on the latest business interruption coverage dispute. In the lawsuit, an Atlantic City casino, Ocean Walk, seeks reimbursement for costs incurred during...more
When COVID-19 ground the world to a halt, policyholders and insurance-coverage attorneys made predictions about the effectiveness of insurance against coronavirus-related losses. And the outlook wasn’t great. This article...more
The pace of new COVID-19 coverage actions has slowed down in recent months, but new cases continue to be filed. As of August 31, 2021, according to the Penn Law COVID Coverage Litigation Tracker, more than 1,980...more
As the second quarter of 2021 continues, one thing is clear: COVID-19 business interruption claims are here to stay for the foreseeable future. Some legislators have proposed bills that would force insurers to cover certain...more
One year ago, when the COVID-19 pandemic ground the world to a halt, our firm’s virtual offices were inundated with calls from policyholders, asking if their current and projected losses due to the pandemic would be covered...more
Following up on our prior discussion of Studio 417, Inc., et al. v. The Cincinnati Ins. Comp., a different federal judge in the Western District of Missouri recently ruled in Zwillo V, Corp. v. Lexington Insurance Co. that a...more
As we wrote about in a recent article, the trends in insurance coverage for COVID-19 related losses are: 1) so far insurers are winning, and 2) the cases are fact intensive and turn on policy and pleading language. As we...more
Companies in the United States continue to file business interruption lawsuits against their insurers for claims arising from state and local government shutdown orders in response to the COVID-19 pandemic. At least 1,250...more
The stark effects of the coronavirus pandemic are conspicuously clear in downtown Chicago: Shuttered businesses that once catered to throngs of commuters and office workers loom over bare sidewalks, while trains fly by with a...more
The New Jersey Superior Court in Optical Services USA/JC1 v. Franklin Mutual Ins. Co. (N.J. Super. Ct. Bergen Cty. Aug. 13, 2020) provided a boon for insureds whose businesses were shuttered by the issuance of...more
For businesses that were shut down by COVID-19 a common question is whether there is coverage for business interruption. In New York, the answer is no. This should be the answer nationwide. Coverage for business interruption...more
Key Points - - Several courts have concluded that government-mandated shutdown orders during COVID-19 do not constitute "direct physical loss," a pre-requisite for insurance coverage that is outlined in insurance policies....more
In the context of the numerous lawsuits have recently filed by policyholders seeking compensation for lost business income occasioned by the pending pandemic, a key issue will be whether those policyholders have suffered...more
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
Many businesses forced to reduce or pause their operations as a result of the Coronavirus pandemic have turned to their insurance carriers for the support their insurance policies promised. Unfortunately, all that these...more
The answer is maybe; but you will not know without a thorough review of all potentially applicable policies. You may be hearing in the media, or directly from brokers, insurance adjusters, or risk managers that there is no...more
Businesses whose operations have been shut down due to the coronavirus crisis rightly look to their business interruption or business income policies for relief. As a general matter, in order to trigger coverage those...more
The novel coronavirus, and the respiratory disease it causes (COVID-19), continue to exact a human toll. As state and national governments fight to mitigate the impact, businesses are also attempting to address the social and...more