business interruption (BI) News

British Columbia’s New COVID-19 Restrictions Disrupt Construction Projects

CALGARY, Alberta – Restrictions imposed by British Columbia to fight the spread of COVID-19 infections after the holiday break have disrupted work at construction sites of a Rio Tinto hydropower project and BC Hydro’s Site C dam. A total of …

Insurers Winning Most, But Not All, COVID-19 Business Interruption Lawsuits

In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen professional baseball teams and an iconic Hollywood restaurant failed. Since COVID-19 sparked government-ordered shutdowns in March, judges have dismissed more …

P/C Insurers Face Workforce, Risk, Policy Challenges as Pandemic Continues

Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face challenges related to virus-related insurance losses and premium volume declines in 2021, according to Fitch Ratings. The operational and risk …

Pennsylvania Judge Allows COVID Business Loss Suit Against Lloyd’s to Advance

Lloyd’s of London lost its initial bid to squelch a coronavirus business interruption lawsuit brought by a Philadelphia bar and restaurant. Judge Gary S. Glazer of the Court of Common Pleas in Philadelphia turned aside preliminary objections to the suit …

Business Interruption Cyber Risks Demand More Insurer Attention as 5G Dawns

Business interruption cyber risks demand more attention from insurers as globalization continues to worsen their impact, a panel of experts argued recently. BI coverage has drawn heightened attention in recent months due to the coronavirus pandemic and its ongoing disruption …

Insurer to Appeal Restaurants’ Win in North Carolina COVID Business Interruption Case

A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit. Superior Court Judge Orlando F. Hudson Jr. ruled on Oct. 7 that closure …

Insurers, Policyholders, Analysts React to UK’s COVID-19 Business Interruption Ruling

Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s Financial Conduct Authority (FCA) to clarify insurance coverage for COVID-19 related business interruption claims. The FCA says the court brought …

Claims for Business Income Loss Due to Construction Dust Denied in Pre-COVID Case

In an opinion that could inform coronavirus business interruption claims now before various courts, a federal appeals court has ruled that a Florida restaurant is unable to collect on its insurance for business interruption losses that it says were caused …

Federal Judge Advances Business Interruption Dispute Between Law Firm, Travelers

A federal judge in California disappointed a law firm suing Travelers Insurance over coronavirus lockdown related business interruption claims in refusing to remove its case to state court and denying its request for a dismissal or stay of a countersuit …

Celebrating Insurers Warned Michigan COVID Ruling Not Knockout Punch They Wanted

A recent ruling from a Michigan judge that business interruption claims payouts require tangible alteration to a property may have sounded like a knockout win for the insurance industry but a legal expert has a slightly different take. Tom Baker, …