Latest Business Interruption Headlines
All the headlines from our Business Interruption Topic Page, ordered by recency.
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...
Insurer Lessons From UK Court Ruling on Business Interruption: Put Customers First
Aug 25 2021 // COVID-19 has led to the disruption of millions of businesses around the UK, particularly for SMEs who have been beset by an average of £130,000 in late payments. However, the Supreme Court ruling in January provided...
Ruling Against Dentist’s COVID Business Interruption Could Be Key Win for Insurers
Aug 16 2021 // A federal appellate court ruling that dismissed a dental practice’s COVID-19 business interruption claim might be the beginning of the end for policyholder arguments that income lost because of government shutdowns...
Ruling Against Dentist’s COVID Business Interruption Could Be Key Win for Insurers
Aug 4 2021 // A federal appellate court ruling that dismissed a dental practice’s COVID-19 business interruption claim might be the beginning of the end for policyholder arguments that income lost because of government shutdowns...
Plaintiffs Seek ISO Files on Virus Exclusion to Back Business Interruption Claims
Jun 7 2021 // Plaintiffs attorneys are looking deep into the weeds for evidence to support claims for business income lost because of COVID-19 public safety orders. Lawyers for footwear wholesaler Marc Fisher LLC and its affiliates are...
Penn. Court Says Tavern Entitled to Business Income Coverage for COVID-19 Losses
May 27 2021 // An insurer could have to pay for a Pennsylvania tavern’s business interruption losses after it shut down due to the COVID-19 pandemic because of a two-letter word in its policy. The Pennsylvania Court of Common Pleas...
5 Ways Cyber Business Interruption Differs from Traditional Business Interruption: RIMS
May 19 2021 // While a typical business interruption can often be a confusing insurance situation, the picture gets even muddier when it involves cyber coverage. Chris Mortifoglio, a forensic accountant, knows all too well how muddy it...
U.S. Court Allows Movie Chain’s COVID Business Interruption Suit Against FM Global
May 7 2021 // A federal judge in Sherman, Texas on Wednesday ruled against insurer FM Global that sought to dismiss a $500 million COVID-19 business-interruption lawsuit by the nation’s third-largest chain of movie theaters. The...
Business Income and the Supposed Ambiguity of “…Direct Physical Loss of or Damage To…”
May 5 2021 // We thank friend of the Academy, Christopher J. Boggs for this guest post. Courts are being asked to decide whether the phrase, “direct physical loss of or damage to” property at the premises unambiguously...
Some States Still Weigh Mandating Business Interruption Coverage
Apr 5 2021 // Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a number of states have...
Lessons from the Field: Why Business Continuity Planning Is Essential
Mar 17 2021 // This post is part of a series sponsored by Old Republic Surety. Perpetuation is a concern not only for insurance agencies and sureties, but also for their construction company clients. Without a business continuity plan, a...
Some States Still Weigh Mandating Business Interruption Coverage
Mar 16 2021 // Since about a year ago when their business constituents began complaining that their insurance companies were telling them their policies do not cover their losses from the pandemic, lawmakers in a number of states have...
Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims
Mar 11 2021 // Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the...
