March 31, 2020
Massachusetts is one of the latest states to propose legislation that would mandate insurers cover COVID-19 related business interruption claims despite virus exclusions in many policies. This comes as Insurance Journal reported legislators in New Jersey and Ohio have floated …
March 20, 2020
The New York State Department of Financial Services (DFS) has instructed insurers to submit details of business interruption policies that have been provided to insureds, as well as the coverage each policy offers regarding COVID-19. The instructions were issued on …
March 19, 2020
A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the constitutionality of legislation like this. “The New Jersey legislation would alter multiple …
March 22, 2017
Almost all the hotels, restaurants and state parks cut off when a bridge on the Central California coast crumbled last month remain closed, but Kurt Mayer chose to keep his deli and taproom open — even though it’s costing him. …
March 17, 2017
With the recent late-winter storms that have hit the Northeast, many businesses could have suffered a loss of revenue they were not anticipating. If a business owner was impacted by this latest storm, chances are his or her company was …
September 20, 2016
New York Governor Andrew Cuomo has identified the incident where a bomb went off from inside a dumpster in New York’s Chelsea neighborhood, injuring 29 people, as an act of terrorism. “I said yesterday I believed it was an act …
September 23, 2015
Marsh and Munich Re have launched non-damage business interruption insurance (NDBI) product that combines risk transfer and consulting services to assist life sciences companies in managing the impact of regulatory actions imposed by the U.S. Food and Drug Administration (FDA). …
September 4, 2014
Marsh, a global insurance broker, risk manager and a wholly owned subsidiary of Marsh & McLennan Cos., has launched a new cyber insurance policy that provides catastrophic protection for large companies seeking to better manage the growing threat of a …
November 1, 2013
A judge has refused to order an immediate halt to production of the internationally popular hot sauce Sriracha at a Southern California factory that local residents say is stinking up their neighborhoods with pepper and garlic fumes. In rejecting the …
October 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 Institute (I.I.I.). The I.I.I. notes that …