Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
Pandemic-Related Business Interruption, Cyber Top Business Risks for 2021: Allianz
Jan 27 2021 // There was no escaping the coronavirus in 2020 and the pandemic will dominate the risk landscape again in 2021, according to global leaders in business, risk management and insurance. A trio of Covid-19 related risks —...
S. Africa Insurer Santam Begins Processing 4,000 Business Interruption Claims
Jan 25 2021 // JOHANNESBURG— South African insurer Santam Ltd. said on Monday it will start processing business interruption claims for all commercial policies that were affected by a coronavirus-led lockdown in April beyond those of...
Initial Reactions to UK Supreme Court’s Ruling on Business Interruption Claims
Jan 15 2021 // Insurers, policyholders and industry observers have issued comments on the UK Supreme Court’s ruling that insurers should pay small businesses for many business interruption claims from the COVID-19 lockdowns. The UK...
UK Supreme Court to Provide Judgment on Business Interruption Appeal on Jan. 15
Jan 12 2021 // The UK Supreme Court will on Friday hand down a judgment in a test case pitting the country’s markets regulator against insurers over how business interruption policies were dealt with during the coronavirus...
COVID-19 Business Interruption Rulings, Most Favoring Insurers, Moving to Appeals
Jan 6 2021 // 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,...
Federal Court Advances COVID-19 Business Income Suit Despite Virus Exclusion
Dec 18 2020 // A federal district court in Virginia has ruled that a spa’s COVID-19-related business income loss lawsuit can move forward despite a virus exclusion in its insurance policy. The United States District Court for the...
Judgment in UK COVID Business Interruption Appeal Will Be Handed Down in January
Dec 18 2020 // LONDON – There will be no judgment in an appeal over business interruption insurance this year, Britain’s markets watchdog said on Tuesday, dashing hopes of an early outcome in a case that could affect billions of...
First Coronavirus Business Interruption Trial Gets Underway
Dec 17 2020 // The owners of a restaurant in the heart of the New Orleans French Quarter are asking a Louisiana judge to order some Lloyd’s of London insurers to cover losses from the Covid-19 outbreak — the first of a...
Small Business Insurtech Huckleberry to Offer Pandemic Business Interruption Plan
Dec 3 2020 // Huckleberry, a small business insurance purchasing platform, has launched a new offering designed for small businesses impacted by pandemic-related stressors and costs. The Pandemic Business Interruption plan will be...
Insurers Winning Most, But Not All, COVID-19 Business Interruption Lawsuits
Nov 30 2020 // In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant...
What Congress Should Do, or Not Do, to Rescue Businesses in Future Pandemics
Nov 20 2020 // Congress is weighing whether insurers and government can together “bend pandemic risk curves” for future events or simply replace some of the economic losses of businesses, putting them “into induced...
Insurtech Blink Launches Non-Damage Business Interruption Parametric Solution
Nov 20 2020 // Irish insurtech Blink has launched a hurricane non-damage parametric insurance solution which provides liquidity to small and medium-sized businesses in the immediate aftermath of a natural disaster. Called “Blink...
South African Insurer Santam to Appeal COVID-19 Business Interruption Ruling
Nov 20 2020 // Santam said on Friday it would appeal against a court ruling that found South Africa’s largest non-life insurer liable to pay a client’s claim relating to a coronavirus lockdown. Like insurers in other...
South African Insurer Santam Loses COVID-19 Business Interruption Test Case
Nov 18 2020 // A Cape Town court ordered Santam Ltd. to pay out business-interruption claims to two South African hospitality companies, potentially opening up the industry to cover losses suffered because of the coronavirus...
Louisiana Court Schedules Trial on First Coronavirus Business Interruption Lawsuit
Nov 12 2020 // A trial will begin Monday in what is thought to be the first lawsuit to be filed against an insurer for denying coverage for business-interruption losses caused by COVID-19 shutdown orders. Judge Paulette R. Irons ruled...
UK Supreme Court to Hear Appeal of COVID Business Interruption Test Case on Nov. 16
Nov 3 2020 // The UK Supreme Court will hear an appeal on Nov. 16 of the Financial Conduct Authority’s (FCA) test case over which insurance companies should offer payouts to small businesses battered by the coronavirus...
N.C. Judge First to Favor Policyholders in COVID-19 Closure Lawsuit
Nov 2 2020 // A judge in Durham County, N.C., has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit. Superior Court Judge Orlando F. Hudson Jr....
Pennsylvania Judge Allows COVID Business Loss Suit Against Lloyd’s to Advance
Oct 30 2020 // Lloyd’s of London lost its initial bid to squelch a coronavirus business interruption lawsuit brought by a Philadelphia bar and restaurant. Judge Gary S. Glazer of the Court of Common Pleas in Philadelphia turned...
It Would Take P/C Insurers 150 Years to Pay COVID-19 Business Interruption Losses
Oct 30 2020 // The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its...
Business Interruption Cyber Risks Demand More Insurer Attention as 5G Dawns
Oct 26 2020 // Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due...
