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Business Losses Policy Terms Business Interruption

Kennedys

Pennsylvania Supreme Court finds no coverage for COVID-19 business interruption losses

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In a long-awaited decision, the Pennsylvania Supreme Court ruled in favor of the insurance companies in two appeals involving the availability of business interruption insurance coverage for losses stemming from the COVID-19...more

Dinsmore & Shohl LLP

Pennsylvania Supreme Court Rules COVID Business Interruption Claims Aren't Covered by Commercial Property Policies

Dinsmore & Shohl LLP on

In a long-awaited decision, the Pennsylvania Supreme Court has held that “direct physical loss” language in commercial property policies is not ambiguous and that COVID-related business-interruption claims do not trigger the...more

K&L Gates LLP

CrowdStrike IT Outage: Wave of Business Interruption Claims Expected

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Businesses, public services, and computer users across the world faced disruption as a result of the major CrowdStrike information technology (IT) outage, which is being coined by many as one of the largest and worst cyber...more

K&L Gates LLP

Litigation Minute: Extreme Weather and Natural Disasters: Insurance Tips for Commercial Policyholders (ESG Litigation Series: Part...

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What You Need To Know In A Minute Or Less - 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...more

Cadwalader, Wickersham & Taft LLP

COVID Decision of Interest

In a recent New York Court of Appeals opinion, the court found that business losses due to the COVID-19 pandemic were not covered under an “all-risk” commercial property insurance policy. In Consolidated Rest. Operations,...more

McGuireWoods LLP

Insurance Recovery for Businesses Impacted by the Francis Scott Key Bridge Collapse

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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

ASKramer Law

Weather & Climate Risk Management Part IV: Taxation of Weather Risk Management Products

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Are there differences in the way in which weather derivatives and weather insurance are taxed? Yes. Weather insurance products, including parametric insurance, are taxed as insurance; and derivatives are taxed in accordance...more

BCLP

English Court Decides COVID-19 is a “Catastrophe”

BCLP on

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

Kennedys

New Jersey Supreme Court rules that COVID-19 business interruption claims may be dismissed at the pleadings stage

Kennedys on

In a unanimous opinion issued yesterday, the New Jersey Supreme Court joined the majority of other courts to hold that business interruption losses related to the COVID-19 pandemic are not covered under the standard language...more

Morrison & Foerster LLP - Left Coast Appeals

This Week At The Ninth: Insurance Coverage for COVID and In-Person Informed Consent for Abortion

This week, the Court considers insurance coverage for business losses sustained as a result of COVID-19 and the constitutionality of Guam’s in-person informed consent requirement for abortion. THE OREGON CLINIC, PC V....more

Ervin Cohen & Jessup LLP

Ninth Circuit Deals Another Blow to Restaurants in COVID-19 Insurance Coverage Case

On June 26, 2023, a panel of judges for the United States Court of Appeals for the Ninth Circuit affirmed an insurance company’s win over a restaurant group seeking insurance coverage for pandemic-related claims in Team 44...more

Lathrop GPM

Excuse the Interruption

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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

Marshall Dennehey

Third Circuit Holds that Commercial Property Policies Do Not Provide Coverage for Businesses’ COVID-19 Closure Claims

Marshall Dennehey on

On January 6, 2023, the Third Circuit Court of Appeals handed down a unanimous opinion in Law Offices of Rhonda H. Wilson, et al. v. USI Insurance Service, et al., which was drafted by Judge Michael A. Chagares. The case is...more

Butler Weihmuller Katz Craig LLP

Profiting from a Peril: Business Interruption Valuation During Economic Instability

The pandemic and political turmoil are causing widespread and long-term economic volatility after many years of positive trends. But covered commercial property losses continue, whether caused by fire, wind, or other causes...more

Maron Marvel

The Implications of Covid-19 on Insurance Coverage as it Relates to Business Interruption Claims and Force Majeure Clauses

Maron Marvel on

Perhaps since the very first executive order came out ordering businesses to close amid the early stages of the Covid-19 pandemic, attorneys have been holding their breath, waiting to see how Covid-19 would play out in terms...more

Kennedys

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

Kennedys on

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

Wiley Rein LLP

First Circuit Joins Other Circuits in Finding COVID-19-Related Losses Do Not Trigger “Business Interruption Coverage” Under...

Wiley Rein LLP on

In a win for Wiley’s client, the United States Court of Appeals for the First Circuit upheld the grant of an insurer’s motion to dismiss, applying Massachusetts law and finding that economic losses related to the COVID-19...more

Gould + Ratner LLP

Illinois Appellate Court Denies Business Interruption Insurance Claim Related to COVID-19

Gould + Ratner LLP on

In the wake of the COVID-19 pandemic, many businesses across the country filed claims for business interruption coverage with their insurance carriers, most, if not all of which, were denied. Indeed, by the end of June 2021,...more

Jones Day

Political Risk Insurance May Cover Business Losses Resulting From Russia's Invasion of Ukraine

Jones Day on

Political risk insurance ("PRI") policies may provide corporate policyholders experiencing business losses in Ukraine or Russia with coverage potentially excluded under traditional property insurance policies. Russia's...more

Ervin Cohen & Jessup LLP

Ninth Circuit Rejects Insurance Coverage for COVID Losses

On March 16, 2022, the Ninth Circuit joined other appellate courts in finding that restaurants were not entitled to insurance coverage for losses due to the COVID-19 pandemic shutdowns. A panel of judges issued an unpublished...more

Steptoe & Johnson PLLC

Fourth Circuit Upholds Dismissal of Insurance Claim for Pandemic Related Business Losses

Steptoe & Johnson PLLC on

In a published decision filed March 7, 2022, the U.S. Court of Appeals for the Fourth Circuit in Uncork and Create LLC v. The Cincinnati Insurance Company, affirmed the U.S. District Court for the Southern District of West...more

J.S. Held

What Forensic Accountants Should Consider When Analyzing a Business Interruption Insurance Claim Following a Ransomware Attack

J.S. Held on

As businesses continue to rely on computers and digital storage of important data, cyberattacks are a growing potential threat to these organizations—especially now, as businesses have transitioned their workforces to work...more

J.S. Held

Complexities of Projecting Revenues for Business Income Losses During an Ongoing Pandemic

J.S. Held on

This paper is intended as a supplement to the white paper published last year entitled, “The Approaching Storm: Business Income Losses, Catastrophe Claims, and the Post-COVID Economy,” where the concept of evaluating 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

Butler Snow LLP

The Fifth Circuit Court of Appeals Just Slammed the Door on Texas Businesses Seeking Insurance Coverage for Lost Revenue Due to...

Butler Snow LLP on

In a pair of opinions issued last month, the Fifth Circuit Court of Appeals held that Texas businesses’ COVID-19 related income loss was not covered by standard business income and extra expense (“BI/EE”) endorsement in...more

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