Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
Insurers, Covid-Hit Businesses May Be at Odds Over Interruption Claims for Disasters
Sep 4 2020 // As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged...
3 Reasons COVID-19 Business Income Suits Should Not be Combined
Aug 26 2020 // Recently a U.S. Judicial Panel on multidistrict litigation denied a proposal to consolidate cases related to business income losses related to coronavirus. Read that story on Insurance Journal here. This was the right...
Texas Insurance Agency Released from Suit by Restaurant Group Over Virus Losses
Aug 21 2020 // A federal judge in Texas has dismissed an independent insurance agency from a lawsuit brought by a Dallas restaurant group seeking reimbursement for business income losses stemming from the civil authority enforced...
Claims for Business Income Loss Due to Construction Dust Denied in Pre-COVID Case
Aug 21 2020 // In an opinion that could inform coronavirus business interruption claims now before various courts, a federal appeals court has ruled that a Florida restaurant is unable to collect on its insurance for business...
Federal Judge Advances Business Interruption Dispute Between Law Firm, Travelers
Aug 17 2020 // A federal judge in California disappointed a law firm suing Travelers Insurance over coronavirus lockdown related business interruption claims in refusing to remove its case to state court and denying its request for a...
Judge Tosses Texas Barbershops’ Suit Against Insurer Over Coronavirus Losses
Aug 16 2020 // A federal judge has agreed with an insurer that a group of barbershops in the San Antonio, Texas-area have no basis for claims seeking coverage under their commercial insurance policies for business interruption losses...
COVID Business Interruption Suits Top 700 with More to Come
Aug 10 2020 // When insurance coverage lawsuits brought by businesses seeking coverage for COVID-related interruptions surpassed the 700 mark last month, the natural question to ask was: Is that a lot? That’s exactly the question...
D.C. Judge Rules For Insurer, Dismisses Restaurants’ Business Interruption Claims
Aug 7 2020 // The insurance industry has notched another victory in its defense of its commercial insurance policies against claims for business interruption due to the coronavirus. In a case brought by the owner of several restaurants...
COVID Business Interruption Suits Top 700. Yep, That’s A Lot
Aug 3 2020 // When insurance coverage lawsuits brought by businesses seeking coverage for COVID-related interruptions surpassed the 700 mark last week, the natural question to ask was: Is that a lot? That’s exactly the question...
Chubb CEO Says U.S. Failure to Manage Covid-19 Hurts Economy, Global Image
Jul 31 2020 // Global insurer Chubb’s employees have begun to return to their offices in many countries around the world as governments have brought the coronavirus pandemic under control. However, the United State government has...
The Importance of Forensic Accounting to Future Hurricane BI Claims
Jul 30 2020 // As a licensed general contractor and a certified public accountant in South Florida who has been advising clients in accounting- and construction-related issues for the past 15 years, I have seen hurricane seasons come and...
Update: COVID-19 Business Interruption Claims Take Center Stage in London Court Case
Jul 20 2020 // UK financial regulators took aim at insurers’ attempts to compare the coronavirus lockdown to government warnings on cigarettes and alcohol, telling a London court that businesses had no choice but to shut down...
Michigan Restaurants’ COVID-19 Business Interruption Claim Rejected by State Judge
Jul 20 2020 // A trial court judge in Lansing, Michigan, handed a victory to insurers in what may be the nation’s first final ruling on the question of whether a property insurer is liable for financial damages caused by a...
S. African Regulator Says Business Interruption Virus Claims Don’t Pose Systemic Risk
Jul 16 2020 // South Africa’s Prudential Authority expects that business-interruption claims linked to the Covid-19 pandemic poses little systemic risk to the insurance industry. The regulator is in talks with the country’s...
P/C Insurance Survey: 55% Back Worker Presumption; 54% See Interrupt Cases Failing
Jul 13 2020 // A slight majority (54%) of property /casualty insurance industry professionals think insurers will succeed in defeating legal and political attempts to force them to pay business interruption claims from the coronavirus...
Insurers Are Creating Products for World Where Pandemics Could Become New Norm
Jul 10 2020 // Insurers are creating products for a world where virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis. While new pandemic-proof policies might not be cheap,...
Chubb Unveils Public-Private Program for Pandemic Business Interruption
Jul 9 2020 // Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses quickly—following through on an...
Biggest Uncertainty for UK Insurers Remains Around Business Interruption Claims: BoE
Jul 9 2020 // The biggest uncertainty now facing insurers is whether they will have to pay for a raft of business interruption claims, the Bank of England said, as a court prepares to rule on whether existing policies cover big losses...
Coronavirus Business Interruption Claimants Lay Out Federal Plan to Reimburse Insurers
Jul 9 2020 // A U.S. lawmaker has introduced a bill that would allow insurers to voluntarily pay certain COVID-related business interruption claims and get reimbursed by the federal government, but insurance groups have rejected the...
What ‘Follow the Fortunes’ Means for COVID-19 Reinsurance Claims
Jul 8 2020 // How reinsurers will respond when cedents pay their insureds for COVID-related business interruptions remains an open question, legal and insurance professionals suggested recently, adding more wrinkles to an already...
