Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
Insurers Face Business Interruption Claims After Global Tech Outage
Jul 22 2024 // Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by global cybersecurity firm...
Texas Health System Loses COVID-19 Business Interruption Suit
Jul 15 2024 // A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on...
Texas Health System Loses COVID-19 Business Interruption Suit – 5th Circuit
Jun 28 2024 // A Texas nonprofit health system who purchased a specialized commercial property insurance policy is not covered for business interruption losses caused by COVID-19, a 5th Circuit Court of Appeals panel ruled, relying on...
Markets/Coverages: Parametric Insurer FloodFlash Adds Business Interruption
Apr 15 2024 // Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle...
New York’s High Court Backs Insurer’s Denial of COVID-19 Business Interruption Claim
Feb 16 2024 // New York state’s highest court has affirmed that there must be direct physical loss or damage, not just presence of a virus, to trigger coverage under a commercial property policy for COVID-19 business interruption...
New Jersey Supreme Court Rules Against Casino in COVID Business Interruption Case
Jan 26 2024 // New Jersey’s Supreme Court ruled Wednesday that an Atlantic City casino is not entitled to payouts from business interruption insurance for losses during the COVID-19 outbreak, determining that the presence of the...
Higher Repair Costs, Supply Line Delays Drive Business Interruption Claims
Nov 20 2023 // 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...
A Note on Business Income
Mar 20 2023 // While most restaurants have seen their revenues return to pre-COVID levels, given continued volatility in food and labor costs, business income values remain unstable, according to Lindsay Shipper, managing director and...
U.S. Firms in Taiwan Making Business Continuity Plans Amid Tensions With China
Feb 7 2023 // Almost half of companies surveyed by the American Chamber of Commerce (AmCham) in Taiwan are revising or plan to revise their business continuity plans amid tensions with China, while a growing number reported being...
Cyber and Business Interruption Top 2023 Threats: Allianz Risk Barometer
Feb 6 2023 // Cyber incidents and business interruption rank as the biggest company concerns for the second year in a row. That’s according to Allianz’s Risk Barometer 2023, which found that at the same time macroeconomic...
Cyber and Business Interruption Top 2023 Threats: Allianz Risk Barometer
Jan 18 2023 // Cyber incidents and business interruption rank as the biggest company concerns for the second year in a row, according to Allianz’s Risk Barometer 2023. At the same time, macroeconomic developments such as inflation,...
Robust Business Continuity Plans Need Regular Updates – and Insurers Play Vital Role
Nov 4 2022 // Having a robust, fit-for-purpose business continuity plan (BCP) should be a central part of risk mitigation at any major organization, yet far too often companies don’t give enough consideration to the matter, and...
Insurers Win Key Parts of Stonegate COVID-19 Business Interruption Case: MS Amlin
Oct 17 2022 // Insurers have won key parts of a complex legal battle with British pubs group Stonegate, MS Amlin said after Monday’s judgment on the 1 billion pound ($1.13 billion) lawsuit against three top insurers over losses...
Vermont Supreme Court Revives COVID-19 Business Interruption Insurance Claim
Sep 26 2022 // The Vermont Supreme Court has kept alive a COVID-19 business interruption loss claim by major shipbuilder against a group of reinsurers. The state’s high court ruled that the case brought by Huntington Ingalls...
Hurricane Fiona Losses Depend on Business Interruption, Cause
Sep 22 2022 // AM Best said it expects insured losses from Hurricane Fiona in Puerto Rico to be influenced by business interruption caused by widespread power outages but losses should be manageable for the industry. “It could take...
In Global Claims Report, Allianz Notes Rising Business Interruption Costs
Aug 1 2022 // The number of contingent business interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state’s power grid and a fire at a semi-conductor plant in Japan contributed to a global...
Allianz Notes Rising Business Interruption Costs in Global Claims Report
Jul 22 2022 // The number of contingent business-interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state’s power grid and a fire at a semi-conductor plant in Japan contributed to a global...
U.S. Supreme Court Refuses to Hear COVID Business Interruption Case
Jun 20 2022 // The U.S. Supreme Court decided on June 6 that it will not hear an appeal of a decision that denied coverage for losses caused by COVID-19 shutdown orders, effectively closing the last door for such claims in the federal...
U.S. Supreme Court Refuses to Hear COVID Business Interruption Case
Jun 8 2022 // The US Supreme Court decided Monday that it will not hear an appeal of a decision that denied coverage for losses caused by COVID-19 shutdown orders, effectively closing the last door for such claims in the federal court...
Cyber, Business Interruption, Natural Disasters Ranked as Top 3 Business Risks: Allianz
Jan 18 2022 // A year of unprecedented cyber-attacks, business interruption and supply chain disruption, along with natural catastrophe activity has pushed these three perils to the top of the list of global business risks in this...
