More than 20 storms—11 of which will become hurricanes, and 5 of which will become Category 3 or greater hurricanes. That's one prediction for the Atlantic hurricane season. Not to worry, you say. Your operations are located...more
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
How can carriers prepare for what is to come after Fiona’s direct impact on Puerto Rico? First and foremost, carriers should begin securing and mobilizing an adequate roster of independent adjusters, ready to respond to...more
COVID-19: FCA final guidance on proving presence of COVID-19 in BI insurance claims - Following consultation, the UK Financial Conduct Authority (FCA) has published final guidance on proving the presence of coronavirus...more
COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more
The UK Supreme Court in the Financial Conduct Authority’s business interruption test case has overturned a decade-long standing judgment relating to causation and how the “trends” clauses should be interpreted....more
In a recent opinion, the UK Supreme Court has found coverage for business interruption as a result of business closures incident to the Covid-19 pandemic. While some may see that decision as support for coverage suits in the...more
For many UK businesses with business interruption (“BI”) insurance policies, a high priority this autumn was keeping up with a rapidly changing regime of coronavirus-related restrictions – changes which last week culminated...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
COVID-19: FCA FS20/7 and final guidance on assessing value of insurance products - Following consultation, on 3 June 2020, the UK Financial Conduct Authority (FCA) published a feedback statement, FS20/7, and final guidance...more
Following in the footsteps of several state legislatures, the Council of the District of Columbia plans to consider on May 5 draft legislation that would require insurers to provide coverage for business interruption losses...more
An increasing number of state legislatures have recently introduced measures that would require the insurance industry to bear much of the burden of business interruption and other losses due to the economic downturn brought...more