business income News

Winter Storm Uri to Generate Billions in Insured Losses: Moody’s

The massive winter storm that barreled through the mid-section of the United States and across the South in mid-February, hitting Texas particularly hard, will generate billions in insured losses, according to commentary by Moody’s Investors Services. The storm, which has …

Business Income, COVID-19, and Plaintiff Attorneys: They Keep Trying

“I think there was an attempt to dissuade the public from filing these claims and to shape the public opinion that this was not property damage,” said Steven C. Marks, managing partner at Miami-based Podhurst Orseck PA, who has filed …

Penn. High Court Deals Potential Blow To Carriers’ Denial Of Business Income Claims

In a case where no insurance company or insurance claim was involved, the Pennsylvania Supreme Court issued a ruling that could potentially negate one of the insurance industry’s standard bases for denial of coverage of business income claims—i.e. that COVID-19 …

Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns

A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close by civil …

Four Key Business Income Concepts

Business income protection is of utmost importance for any insured suffering a catastrophic property loss. To fully understand business income coverage and the protection the policy extends, four key business income definitions and concepts must be understood: Business income; Period …