Costs and Benefits to Travel Insurance in the COVID Era
Our weekly Online Travel Update for the week ending Friday, December 9, 2022, is below. Payments again feature prominently in this week’s Update as American Express (not to be outdone by Mastercard’s recent announcement)...more
Host Michael D. Lichtenstein, partner in Lowenstein’s Insurance Recovery Group, talks with Laura Heidt of Brownell Travel about the rising popularity of travel insurance, especially since COVID. How much might you expect to...more
The FCA, on 19 July 2021, updated its webpage setting out its expectations of general insurance firms in the light of COVID-19 to clarify its expectations about travel insurance. Although the FCA had previously published...more
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
COVID-19: FCA updates webpage on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case, publishing a draft transcript of the...more
Plaintiffs filed a putative class action against Norwegian Cruise Lines claiming that Norwegian failed to disclose profits it earned when the plaintiffs elected to purchase travel insurance during the cruise booking process....more
Recent regulatory developments of interest to insurers and their intermediaries. Includes updates relating to COVID-19, Solvency II, and more....more
AUTOMOBILE INSURANCE - Some people will have permanent complications from the Coronavirus, which will create a new population with pre-existing conditions. This may result in either more “eggshell Plaintiffs” or in an...more
As businesses continue to evaluate current operations and how they will modify them as shelter-in-place orders are lifted and employees and customers return, it is important for each business to anticipate potential COVID-19...more
As COVID-19 cases have continued to spread across the country resulting in government-issued “shelter in place” orders, few industries have felt the impact as swiftly and deeply as the restaurant industry. Indeed, such...more
Months and months ago you planned a wonderful vacation to Italy, or you scheduled an important business trip to Spain, or a cruise around the Greek Isles, or a shopping trip to New York, or a college assessment in California,...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
Companies across the country are canceling meetings and events over travel concerns because of the coronavirus. The first question to ask is whether the company’s existing insurance policies provide coverage, in whole or in...more
In January, we were among the first to post on the insurance implications of coronavirus. Since then, the epidemic has landed on our shores, dragged down the stock market, and become a political football. It has affected...more
Businesses across a wide range of industries are grappling with how to address the practical and legal concerns that have been created by the COVID-19/coronavirus outbreak. Businesses have started asking when and how they...more
Make an inventory of risk pathways that could affect your business. Identify essential supply chains, raw materials or parts providers and service providers to assess impact of potential disruptions....more
Over the past several weeks, the COVID-19 coronavirus outbreak has shaken global markets and caused widespread disruption to businesses throughout the world. As the virus continues to spread around the globe, many companies...more
With the coronavirus outbreak continuing in China, significant new incidences being reported in South Korea and Italy, and stories of quarantines permeating the news, in addition to the catastrophic toll on human health, we...more
Some consumers with pre-existing medical conditions (“PEMCs”) have problems navigating the travel insurance market and finding affordable cover given their medical conditions. Some are declined cover, only offered cover that...more
The Treasury Department’s Office of Foreign Asset Control (“OFAC”) continues to rack up settlements. Two travel insurance companies recently settled OFAC enforcement actions for violations of the Cuban Embargo....more