Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
Markets/Coverages: Parametric Insurer FloodFlash Adds Business Interruption
Apr 15 2024 // Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle...
New York’s High Court Backs Insurer’s Denial of COVID-19 Business Interruption Claim
Feb 16 2024 // New York state’s highest court has affirmed that there must be direct physical loss or damage, not just presence of a virus, to trigger coverage under a commercial property policy for COVID-19 business interruption...
New Jersey Supreme Court Rules Against Casino in COVID Business Interruption Case
Jan 26 2024 // New Jersey’s Supreme Court ruled Wednesday that an Atlantic City casino is not entitled to payouts from business interruption insurance for losses during the COVID-19 outbreak, determining that the presence of the...
Higher Repair Costs, Supply Line Delays Drive Business Interruption Claims
Nov 20 2023 // The aftershocks of the COVID-19 pandemic have hit businesses hard, with inflation, supply chain disruptions, and increasing downtime. Just as we saw how ill-prepared our healthcare system was for the global outbreak, so...
A Note on Business Income
Mar 20 2023 // While most restaurants have seen their revenues return to pre-COVID levels, given continued volatility in food and labor costs, business income values remain unstable, according to Lindsay Shipper, managing director and...
U.S. Firms in Taiwan Making Business Continuity Plans Amid Tensions With China
Feb 7 2023 // Almost half of companies surveyed by the American Chamber of Commerce (AmCham) in Taiwan are revising or plan to revise their business continuity plans amid tensions with China, while a growing number reported being...
Cyber and Business Interruption Top 2023 Threats: Allianz Risk Barometer
Feb 6 2023 // Cyber incidents and business interruption rank as the biggest company concerns for the second year in a row. That’s according to Allianz’s Risk Barometer 2023, which found that at the same time macroeconomic...
Cyber and Business Interruption Top 2023 Threats: Allianz Risk Barometer
Jan 18 2023 // Cyber incidents and business interruption rank as the biggest company concerns for the second year in a row, according to Allianz’s Risk Barometer 2023. At the same time, macroeconomic developments such as inflation,...
Robust Business Continuity Plans Need Regular Updates – and Insurers Play Vital Role
Nov 4 2022 // Having a robust, fit-for-purpose business continuity plan (BCP) should be a central part of risk mitigation at any major organization, yet far too often companies don’t give enough consideration to the matter, and...
Insurers Win Key Parts of Stonegate COVID-19 Business Interruption Case: MS Amlin
Oct 17 2022 // Insurers have won key parts of a complex legal battle with British pubs group Stonegate, MS Amlin said after Monday’s judgment on the 1 billion pound ($1.13 billion) lawsuit against three top insurers over losses...
Vermont Supreme Court Revives COVID-19 Business Interruption Insurance Claim
Sep 26 2022 // The Vermont Supreme Court has kept alive a COVID-19 business interruption loss claim by major shipbuilder against a group of reinsurers. The state’s high court ruled that the case brought by Huntington Ingalls...
Hurricane Fiona Losses Depend on Business Interruption, Cause
Sep 22 2022 // AM Best said it expects insured losses from Hurricane Fiona in Puerto Rico to be influenced by business interruption caused by widespread power outages but losses should be manageable for the industry. “It could take...
In Global Claims Report, Allianz Notes Rising Business Interruption Costs
Aug 1 2022 // The number of contingent business interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state’s power grid and a fire at a semi-conductor plant in Japan contributed to a global...
Allianz Notes Rising Business Interruption Costs in Global Claims Report
Jul 22 2022 // The number of contingent business-interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state’s power grid and a fire at a semi-conductor plant in Japan contributed to a global...
U.S. Supreme Court Refuses to Hear COVID Business Interruption Case
Jun 20 2022 // The U.S. Supreme Court decided on June 6 that it will not hear an appeal of a decision that denied coverage for losses caused by COVID-19 shutdown orders, effectively closing the last door for such claims in the federal...
U.S. Supreme Court Refuses to Hear COVID Business Interruption Case
Jun 8 2022 // The US Supreme Court decided Monday that it will not hear an appeal of a decision that denied coverage for losses caused by COVID-19 shutdown orders, effectively closing the last door for such claims in the federal court...
Cyber, Business Interruption, Natural Disasters Ranked as Top 3 Business Risks: Allianz
Jan 18 2022 // A year of unprecedented cyber-attacks, business interruption and supply chain disruption, along with natural catastrophe activity has pushed these three perils to the top of the list of global business risks in this...
Business Interruption, Recovery Costs Drive Financial Losses From Cyber Attacks: Report
Nov 1 2021 // During the COVID-19 crisis, global cyber attacks skyrocketed in a digital pandemic driven by ransomware, according to a report published by Allianz Global Corporate & Specialty (AGCS). Further, the report noted,...
S. Africa Insurer Santam Loses Appeal in COVID-19 Business Income Case With Hotelier
Oct 7 2021 // JOHANNESBURG – South Africa’s Supreme Court of Appeal has ruled Santam is liable to cover the impact of COVID-19 restrictions on hotel group Ma-Afrika for 18 months, rejecting the insurer’s request for a...
Judge Clears Kansas City COVID Business Interruption Claim for Trial
Sep 24 2021 // A federal judge in Kansas City has cleared a restaurant group’s COVID-related business interruption claim for jury trial, finding that an 8th Circuit Court decision that found no coverage was owed in a separate case...
