FERMA Forms Task Force to Find Solution for Non-Damage BI Cover – Such as Pandemic May 7, 2020 The Federation of European Risk Management Associations (FERMA) announced the launch of a task force to create proposals to address...
Two Law Firms Seek British Businesses to Join Biz Interruption Lawsuit Against Allianz May 6, 2020 Two law firms said on Tuesday they were gathering companies in Britain for a potential group lawsuit against German insurer...
Legal Sea Foods Restaurant Sues Over Business Losses Under Policy Issued March 1 May 6, 2020 By Andrew G. Simpson A popular seafood restaurant chain that has been shuttered by the coronavirus and restrictions on dining has gone to court...
Hiscox to Raise Capital in Response to COVID-19 Growth Opportunities and Exposures May 5, 2020 By L.S. Howard Lloyd’s insurer Hiscox is planning a capital raise via the placement of new ordinary shares, which will enable the company...
S&P Expects States to Lose Bids to Mandate Coronavirus Business Interruption Coverage May 4, 2020 By Mark Hollmer Standard & Poor’s said it does not expect state legislators to succeed in their efforts to retroactively expand business interruption...
UK Regulator Wants Courts to Clarify Wording of Disputed Business Interruption Policies May 1, 2020 By Huw Jones and Carolyn Cohn Britain’s financial watchdog said on Friday it would urgently ask the courts to clarify uncertainty over whether businesses can claim...
Markel Estimates COVID-19 Losses of $325 Million April 30, 2020 By Susanne Sclafane Diverging from strategies of some competitors, Markel Corp. established a big reserve for a chunk of its potential COVID-19 exposure...
Top Insurers Face Lawsuit from UK Hospitality Sector on Rejected Biz Interruption Claims April 30, 2020 By Kirstin Ridley and Carolyn Cohn Top insurers such as AXA, RSA, QBE and Zurich face a potential multi-million-pound lawsuit from British pubs, hotels, restaurants and...
Hiscox Action Group Gears Up to Take Hiscox to Court over COVID-19 BI Exclusions April 29, 2020 By L.S. Howard Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox’s pandemic exclusions to its commercial business...
Analysis: Insurers Feel Rising Legal Heat for COVID-19 Business Interruption Exclusions April 28, 2020 By Carolyn Cohn, Suzanne Barlyn and Noor Zainab Hussain Daniel Duckett, owner of the Lazy Claire patisserie in Belfast, was hoping for an insurance payout of up to 100,000...