News & Analysis as of

Natural Disasters Business Losses

Womble Bond Dickinson

The Importance of Understanding Force Majeure Clauses in Contracts Amid Recent Disasters

Womble Bond Dickinson on

In recent years, natural disasters have become increasingly frequent and severe, disrupting industries and communities worldwide. Events such as Hurricane Helene and the extreme weather conditions experienced in Western North...more

McGuireWoods LLP

Tips to Maximize Insurance Recoveries for Hurricane Helene Property Damage and Business Interruption Losses

McGuireWoods LLP on

Hurricane Helene made landfall on Thursday, September 26, 2024, carrying catastrophic 140 mph winds as the first known Category 4 storm to hit Florida’s Big Bend region since records began in 1851. By Friday, Hurricane...more

Walkers

Constructs in Industry Loss Cat Bonds

Walkers on

Catastrophe bonds using industry-loss triggers have become increasingly popular among ILS investors and cedant sponsors. Industry loss catastrophe bonds pose less adverse selection risk from the point of view of...more

K&L Gates LLP

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

K&L Gates LLP on

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

Flaster Greenberg PC

Eight Steps to Recovering Under Your Florida or New Jersey Hurricane Insurance Policy

Flaster Greenberg PC on

The threat of hurricanes is very real for southern states from Texas to Florida and eastern states from Florida to New Jersey, New York, and even Maine during the six-month long Atlantic hurricane season, which runs from June...more

Console and Associates, P.C.

Litigation Over Lahaina Wildfire Commences as Residents Claim Negligence of Hawaiian Electric Industries Resulted in Over 100...

Earlier this month, wildfires tore through the Island of Maui. While the fires affected an estimated 17,000 acres, the town of Lahaina was hit the hardest, leaving over 114 people dead and another 850 missing. More recently,...more

Eversheds Sutherland (US) LLP

Wrong place, right time: IRS questions COVID-19 disaster loss for CFC worthless stock

During the COVID-19 federally declared disaster, companies scrambled to come up with tax strategies that could help to curb economic losses resulting from the COVID-19 pandemic. The section 165(i) acceleration provision for...more

McCarter & English, LLP

Business Interruption Claims for Wildfires and Related Losses

In a phenomenon unusual for many residents of the northeastern United States, dense clouds of smoke from wildfires in Canada passed through several major cities, including New York, the week of June 5, 2023. As air quality...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

Morgan Lewis

Five Steps for Leveraging Insurance to Recover from Severe Weather

Morgan Lewis on

Financial losses caused by recent storms, fires, hurricanes, and other natural disasters are a significant and urgent problem. Insurance industry observers predict that such extreme weather may result in losses of over $100...more

K&L Gates LLP

Disaster Preparedness Toolkit

K&L Gates LLP on

While the onset of a natural disaster is generally unpredictable, we can proactively prepare with mitigation efforts and emergency response procedures. As we experienced throughout 2020, and through present day, natural...more

Pillsbury Winthrop Shaw Pittman LLP

Texas Winter Storms: Evaluating Business Interruption Claims Following a Large-Scale Disaster

Responding to the Texas Winter Storm Crisis: Issue 2—Winter storms and wide-area events like the one that recently devastated Texas leave behind challenging questions about business interruption insurance coverage. ...more

K&L Gates LLP

Severe Winter Storm In Texas: Insurance Coverage Considerations

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The winter storm that ravaged Texas this week has caused considerable damage and suffering, and it is predicted by some that it will to lead to the largest number of insurance claims resulting from a single event. For a state...more

Farella Braun + Martel LLP

Maximizing Business Insurance Coverage Benefits After a Fire

Unfortunately, we again write while wildfire is devouring homes and businesses in Napa and Sonoma, and threatening many more. We’ve previously posted tips about first steps that you should take in the event your business has...more

K&L Gates LLP

Disaster Preparedness Toolkit

K&L Gates LLP on

While the onset of a natural disaster is generally unpredictable, we have become accustomed to bracing ourselves for the inevitable hurricane, tornado, flood, or wildfire. Preparation for business disruptions as a result of...more

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