Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
Supply Chain, Data Breach, Political Unrest Top Overseas Risks for Businesses: Chubb
Apr 29 2014 // As U.S. and Canadian businesses plan to expand their business overseas this year, their executives are worried about supply chain failures, data breaches and political instability, according to a survey by the Chubb Group...
Commentary: Swatch Fire Losses and Contingent Business Interruption Coverage
Jan 31 2014 // An oft-overlooked insurance coverage found in many commercial property policies called “contingent business interruption” coverage may provide insurance proceeds to companies throughout the watch industry to...
Top 10 Corporate Risks in 2014: Allianz Risk Barometer
Jan 14 2014 // Business interruption (BI) and supply chain, natural catastrophes and fire/explosion top the list of company risks in 2014, according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance...
I.I.I. on Business Insurance Lessons Learned From Sandy
Oct 4 2013 // The difficulty many businesses had reopening after Superstorm Sandy is a reminder of the importance of having a disaster recovery plan and the right type and amount of insurance, according to the Insurance Information...
Is There Coverage for Losses Stemming From Government Shutdown or Default?
Oct 4 2013 // At the time of this writing, the federal government is in a partial shutdown. Essential functions are operating, but certain areas such as national parks are completely closed. While this partial shutdown does not threaten...
Insurers Paid Out $1.2M for Boston Bombing-Related P/C Claims So Far
Sep 9 2013 // The Massachusetts Division of Insurance says that so far, 207 Boston Marathon bombing-related property/casualty claims have been reported by the top 25 insurers and the residual market insurer Massachusetts FAIR...
Insurers Have Paid $1.2M for Boston Bombing P/C Claims So Far; Health Claims to Top $22M
Aug 30 2013 // The Massachusetts Division of Insurance says that so far, 207 Boston Marathon bombing-related property/casualty claims have been reported by the top 25 insurers and the residual market insurer Massachusetts FAIR...
Regulators Alert Financial Firms to Disaster Risk
Aug 28 2013 // The Securities and Exchange Commission has issued a risk alert on business continuity and disaster recovery planning for investment advisers. The SEC risk alert from its Office of Compliance Inspections and Examinations...
Aon Acquires Dempsey Partners
Jun 21 2013 // Aon Global Risk Consulting, the risk consulting business of Aon plc acquired the assets of Dempsey Partners, a provider of claims preparation, business interruption valuations and related forensic accounting services to...
Defining Terrorism for Policies Not a Simple Task After Boston Tragedy
Apr 25 2013 // There are a number of issues involved in determining whether the Boston bombings tragedy would be considered a terrorist act for insurance purposes such as determining the applicability of terrorism exclusions and...
Hartford CEO McGee Says ‘Undoubtedly Weather Has Changed’
Dec 7 2012 // The Hartford Financial Services Group CEO Liam McGee said his company’s gross losses from Superstorm Sandy may hit the reinsurance deductible of $350 million. Speaking at the Goldman Sachs Financial Services...
Attorneys Discuss Possible Triggers for Business Interruption Coverage
Nov 20 2012 // Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass...
Post-Sandy Snowstorm Causes New Damage, Complicates Business Insurance
Nov 8 2012 // Businesses in New York and New Jersey that were preparing insurance claims for losses from Superstorm Sandy now have a second headache: how to deal with new losses from an early winter snow storm. The snow and wind from...
Outsourcing Failures Now in Top 3 as Causes of Supply Chain Disruption
Nov 8 2012 // According to a survey of 532 organizations from across 68 countries and 14 industry sectors, conducted by the Business Continuity Institute (BCI), supported by the Zurich Insurance Group. “outsourcing failure is now...
‘Big One’ Looms in Minds of Experts Before California ShakeOut
Nov 5 2012 // A day before more than 9 million people in California took part in a massive nationwide earthquake drill in mid-October, U.S. Geological Survey seismologist Lucy Jones stood in a room full of risk professionals in the San...
Coverage Analysis: Sandy and Contingent Business Income Losses
Nov 2 2012 // Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued operational viability of that “non-related” entity. Their dependence on...
Big Business Interruption Losses Looming After Sandy
Nov 2 2012 // As the insurance industry makes assessments for superstorm Sandy’s impact, analysts say there is now the potential for significant business interruption (BI) and contingent business interruption (CBI) losses. Fitch...
Hurricane Sandy Losses Should Not Affect Most Insurer Ratings or Premiums: S&P
Oct 31 2012 // Standard & Poor’s Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty insurers, global reinsurers, and certain catastrophe bonds. Although it...
‘Big One’ Looms in Minds of Experts Before California ShakeOut
Oct 18 2012 // A day before more than 9 million people in California took part in a massive nationwide earthquake drill on Thursday, U.S. Geological Survey seismologist Lucy Jones stood in a room full of risk professionals in the San...
Cooper Gay Launches Terrorism & Political Risk Crisis Management Service
Oct 8 2012 // London-based Cooper Gay & Co. announced that the independent insurance and reinsurance intermediary is “offering a free crisis management and business continuity consultation to its Terrorism & Political...
