While Fitch Ratings worries that litigation over COVID-19-related business-interruption claims is creating uncertain risk for property and casualty insurers, an economist who once served as a chief advisor to the industry said he doubts there will be a widespread impact. …
A federal judge denied Society Insurance’s motions to dismiss three “bellwether” lawsuits filed by hospitality businesses that were denied coverage for revenue lost because of COVID-19 public health orders. U.S. District Judge Edmond Chang in Chicago, who was assigned a …
For an incredible 10-day period in mid-February, Texas was battered by a brutal winter storm bringing snow, ice, and record-low temperatures. Millions of Texans were without power and water for days. These conditions forced thousands of Texas businesses to close …
A New Orleans judge denied a motion for declaratory judgment that insurance coverage is owed to a restaurant for business income that was lost when it was required to close its dining room because of the COVID-19 pandemic. The lawsuit …
To anyone keeping score, it appears that insurers are crushing policyholders who sued for business income lost because of COVID-19 restrictions. As of Tuesday, insurers had won 147 motions for dismal or summary judgment in state and federal courts, according …
A lawsuit filed by the owner of a Chicago hotel and its rooftop bar will put to test a request by the Illinois Insurance Department that insurers disregard any slowdown caused by COVID-19 when calculating business income lost due to …
While insurers continue to win four out of five cases in early rounds, in the past month two property owners with policies that contained endorsements specifically providing coverage for diseases survived motions to dismiss their COVID-19 business interruption claims. On …
A wave of litigation over business-interruption losses caused by COVID-19 shutdown orders has started splashing into the appellate courts. Appeals of trial court decisions in at least 11 lawsuits have been filed so far, all but one of them by …
There aren’t many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from Covid-19 has left insurers issuing existential warnings and businesses discovering they weren’t covered. It’s resulted in courts packed with …
GULFPORT, Miss. — A Mississippi Gulf Coast casino has become one of many businesses nationwide to sue its insurer for refusing to cover business losses because of the coronavirus pandemic. Island View Casino Resort in Gulfport contends in the federal …