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 existing precedent that COVID-19 does not physically …
The Bonnet Carré Spillway diverts Mississippi River flood flows away from New Orleans into Lake Pontchartrain, which connects to the Mississippi Channel and eventually the Gulf of Mexico. The spillway has been opened only 15 times since construction was completed …
A Samsung Electronics Co. semiconductor plant in Texas sued its insurer over $400 million in damage claims tied to a power blackout during a deadly winter storm in 2021. The federal lawsuit filed Monday against Factory Mutual Insurance Co. said …
The Louisiana Supreme Court has agreed to review an appellate court decision that found the COVID virus caused a direct physical loss that was covered by insurance. The Louisiana high court announced Tuesday that it will take up an appeal …
The owners of high-end London restaurants The Wolseley and The Delaunay sued AXA Insurance UK Plc for as much as 4 million pounds ($5.4 million) over its failure to pay out on claims linked to the coronavirus lockdowns. Lawyers for …
Some of the world’s biggest insurers are bracing as a second wave of multi-million-pound lawsuits, brought by struggling British pubs, restaurants and bakery chains over lockdown losses, starts hitting London’s courts next week. Zurich, MS Amlin, Liberty Mutual, Allianz and …
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 go – and I have …
Two lawsuits have been filed in federal court in Illinois by a group of businesses — who were forced to close their operations by government authorities as a result of the COVID-19 pandemic — over the denial of business interruption …
Puerto Rico’s island-wide power outage will mean a surge in insurance claims for lost business income that will increase the already high cost of damage caused by Hurricane Maria, likely tipping some big reinsurers into the red this year, according …
The high costs related to business interruption should provide an impetus for companies to prep for them in advance, according to industry experts. During a recent webinar hosted by global broker Marsh, insurance experts detailed the top five issues related …
