The aftershocks of the COVID-19 pandemic have hit businesses hard, with inflation, supply chain disruptions, and increasing downtime. Just as we saw how ill-prepared our healthcare system was for the global outbreak, so was our economy, and our supply and …
TRENTON, N.J. (AP) — New Jersey`s Supreme Court is expected to consider whether an Atlantic City casino can get payouts from business interruption insurance for losses during the COVID-19 outbreak, potentially providing guidance for policyholders nationwide regarding the scope of …
The Ninth Circuit Court of Appeals has dismissed lawsuits by 14 businesses seeking insurance coverage from Travelers Insurance for business losses stemming from COVID-19 and the related government shutdown orders. The federal appeals court affirmed the denial of the claims …
Multiple hedge funds are making long shot bets on COVID-19 business-interruption claims, despite a long string of losses in state and federal courts, according to a report by Wall Street Journal. The newspaper, citing anonymous sources, reported Thursday that Avenue …
A federal judge has dismissed 32 lawsuits over COVID-19 business interruption insurance claims against Erie Insurance, concluding the claimants failed to “plausibly plead” that they are entitled to coverage under their Erie policies. The ruling by U.S. District Judge Mark …
Policyholder attorneys have had little success persuading most courts that commercial property insurers owe coverage for business interruptions caused by COVID-19 shutdowns. How about premium rebates instead? A panel of the 8th Circuit Court of Appeals on Thursday shut down …
As the COVID-19 pandemic began to spread around the world last year, businesses faced unprecedented certainty and disruption, leading to a wave of insurance coverage disputes. Roughly a year and a half later, we are beginning to get some clarity …
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising rates. The Lloyd’s of London insurer …
Neither COVID-19 nor legislation enacted because of it has seriously harmed the creditworthiness of the property and casualty insurance sector, according to a report released by Moody’s Investors Service on Friday. Businesses have filed about 1,700 business-interruption claims because of …
The upcoming anniversary of COVID-19 shutdown orders may reveal whether a significant number of policyholders have been waiting on the sidelines before suing their insurers for business-interruption losses. Holding off on legal action may make sense, as insurers are winning …