Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies …
Louisiana lawmakers won’t try to force business interruption insurance policies to cover the widespread closures caused by the COVID-19 pandemic. Sen. Rick Ward, a Port Allen Republican, shelved the proposal amid concerns it could crater the state’s insurance industry and …
A dive shop in South Florida is one of the first businesses in the state to file suit against its insurer for the denial of a business interruption claim initiated because of the current coronavirus pandemic. The lawsuit, Mace Marine …
New Jersey was the first state to propose a bill that would mandate insurers cover COVID-19-related losses under their business interruption policies, and the insurance industry was quick to express its concern. But that hasn’t stopped some states from rolling …
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 …
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 …
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 …
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. …
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 …
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 …
