The Calm Before the Storm: Planning for Catastrophic Weather Events
Catastrophic events (CAT) include hurricanes, floods, landslides, tsunamis, volcanic eruptions, earthquakes, tornados, and wildfires (See Figures 1-4 below). “CAT season” is the phrase experts commonly use to describe the...more
Escalating Impacts of Catastrophic Weather - Large insurance losses are increasingly being caused by hazardous weather events such as hurricanes, floods, lightning strikes, high winds, large hail, and wildfires....more
As jury verdicts across the country are on an upward trajectory into the hundreds of millions and in some cases billions of dollars, this calls for a different litigation and trial strategy to contain the awards and minimize...more
In this episode of “Don’t Take No for an Answer,” hosts Lynda A. Bennett and Michael Lichtenstein of Lowenstein’s Insurance Recovery Group provide recommendations for preparing corporate insurance policies for the next...more
Over the past several weeks, we've seen legislators introduce bills to retroactively rewrite existing insurance policies to provide coverage for COVID-19 claims, and a flood of insurance coverage complaints filed across the...more
Over the past decade, as commercial property insurance rates softened, so too have terms and conditions. In some instances, attempts to broaden coverage have also had the effect of diluting the clarity and consistency of...more
On April 24, 2019, the Florida Legislature passed a bill (the “Act”) to reform the requirements for the assignment of benefits of claims for residential and commercial property insurance. The Act is expected to become law....more
Insurers and policyholders should heed the critical insurance issues that arise in the aftermath of natural disasters....more
Earlier this year, a London insurance market industry group published London Market looks ahead: Preparing for the next big insurance event, a White Paper describing a stress test of the market when faced with a...more
When faced with a catastrophic loss triggering multiple layers of coverage and recalcitrant insurers at the primary layer, a policyholder has strong incentives to settle with the first-layer carriers for less than the full...more