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Reinsurance Business Interruption

Clark Hill PLC

Maritime and Reinsurance Law and the Baltimore Bridge Collapse

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In the early morning of March 26, the Singapore-registered container ship MV Dali, after losing power, collided with a main pier of the Francis Scott Key Bridge that spans the Patapsco River and the outer Baltimore Port in...more

BCLP

English Court Decides COVID-19 is a “Catastrophe”

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The English Court has, for the first time, considered the meaning of a “catastrophe”, as well as how Hours Clauses work in the context of non-damage business interruption losses claimed under two Property Catastrophe Excess...more

Hinshaw & Culbertson - Insights for Insurers

[White Paper] United States Insurance Trends and Decisions 2023

As 2024 rapidly approaches, we look back at some of the key decisions, trends, and developments impacting the U.S. insurance industry in 2023 and look ahead at some trends and cases to watch in 2024. Insurers continue to...more

BCLP

Reinsurance: aggregation of COVID losses post-Stonegate

BCLP on

On 17 October 2022, the English Commercial Court delivered three very significant, related judgments, which in part considered aggregation of business interruption losses arising from COVID-19....more

Hogan Lovells

Insurance regulatory news, July 2021 #3

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COVID-19 BI insurance test case: FCA updates webpage The Financial Conduct Authority (FCA) has updated the webpage on its business interruption (BI) insurance test case. The FCA has published the Supreme Court order varying...more

Clark Hill PLC

Travel Insurers Face Headwinds From Reinsurers Over COVID Losses

Clark Hill PLC on

Insurance litigation stemming from COVID-19 has offered few jurisprudential surprises: exclusions were largely enforced, defense costs mostly paid. While policyholders almost immediately sued their insurers under a variety...more

Hogan Lovells

New Release: Insurance Horizons Brochure 2021

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The global pandemic brought a wave of changes and developments that have impacted, and continue to impact, the insurance sector. As we look ahead, we see further change on the horizon. Around the world, we continue to...more

Conyers

Conyers Coverage – Cayman Islands – Issue 4

Conyers on

This issue focuses on the evolution of the Cayman Islands insurance industry. We share an interview with Nate Gemmiti, Chairperson of CIRCA, and introduce you to the Head of our Cayman office, Kevin Butler who, following time...more

BCLP

Reinsurance Implications of FCA Test Case

BCLP on

Insurers seem confident that reinsurers will take their share of the impact of the Court’s judgment. So what are the immediate reinsurance issues arising from the decision?...more

Cooley LLP

Blog: Reinsurance in the Time of COVID-19 – Part 3

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In part 3 of our blog series on reinsurance issues arising from COVID-19, we consider the implications of “reopening” the economy on reinsurance exposure. Recent events demonstrate that the process of reopening the economy...more

BCLP

Does “late payment” of Covid-19 BI claims create additional exposure for insurers and reinsurers?

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As has been reported widely in the press, policyholders are seeking damages from insurers for “late payment” due to insurers rejection of their Covid-19 BI related claims. In particular, many small and medium sized businesses...more

Snell & Wilmer

Legislative Proposals May Facilitate Insurance Coverage for Business Losses Due to the Coronavirus Pandemic

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Whether insurance coverage is available for coronavirus-related claims may often depend on the actions of lawmakers who are jumping into the fray with proposed changes to insurance coverage laws.  Businesses seeking coverage...more

BCLP

London market impact of U.S. COVID-19 BI law challenge: How might the proposed U.S. state COVID-19 BI legislation be challenged?...

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Reinsurers are generally bound to follow the fortunes of their reinsureds, but will these be the same fortunes that were priced, sold, and reserved at inception or post-contractual coverages that are mandated by state...more

BCLP

Must reinsurers follow their cedants’ COVID-19 related claim settlements?

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A key question being asked in the markets is whether reinsurers are obliged to follow their cedants’ Covid-19 related settlements? Covid-19 continues to dominate the headlines and the lives of people around the world....more

Zelle  LLP

[Webinar] Managing Insurance Claims in the Wake of Catastrophes - July 22nd-26th, 10:00am CT, 16:00 GMT

Zelle LLP on

Zelle LLP invites you to join us for a week of webinars featuring insurance topics that are of critical importance to adjusters and insurance professionals. This series will cover managing insurance claims in the wake of...more

Carlton Fields

Magistrate Judge Recommends Denying Application For $305m Reinsurance Judgment

Carlton Fields on

A Magistrate Judge in the U.S. District Court for the Southern District of New York has recommended that a default judgment totaling more than $221 million be entered against the Islamic Republic of Iran and in favor of...more

Zelle  LLP

Hurricane Sandy's Civil Authority Issues Bear Watching by Reinsurers

Zelle LLP on

As both insurers and reinsurers are well aware by now, the destructive path left by Hurricane Sandy in many Northeast states such as New York, Connecticut, and New Jersey was devastating. To date, reports have estimated...more

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