Entertainment Industry Coalition Asks Senate to Address Need for Pandemic Risk Insurance thewrap.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thewrap.com Daily Mail and Mail on Sunday newspapers.
House Financial Services Subcommittee on Housing,
Community Development, and Insurance. Cleaver was selected unanimously by his Democratic colleagues to chair the powerful subcommittee. It is my great honor to be selected by my colleagues as the Chair of the Subcommittee on Housing,
Community Development, and Insurance, said
Congressman Cleaver. As someone who spent the first several years of my life living in a shack with no electricity or running water and several more after that in public housing I understand how pivotal stable housing is to realizing the American dream. I look forward to working with Chairwoman Waters and my colleagues on the Financial Services Committee to do everything in our power to expand our nation s affordable housing stock, end homelessness in America, and confront the scourge of this pandemic in our communities and insurance market.
If the Nashville Bombing is Considered a “Terrorist” Act, Does that Trigger the Terrorism Exclusion?
A Christmas Day explosion rocked Nashville, Tennessee. Officials believe 63-year-old Anthony Q. Warner is responsible for the blast that damaged several buildings, injured three people and reportedly killed Warner. Various reports state that Warner took steps to assure there were very few human casualties.
Although a definitive motive has yet to be established, investigators have discovered that Warner believed in some unusual conspiracy theories. The Associated Press reports that among these conspiracy theories, Warner believed that shape-shifting reptiles assume human form to take over society.
A New Year’s Nightmare: COVID-19 Litigation Piling Up
Illustration by Tim Peacock
More than 1,000 lawsuits across industries have been filed against insurance firms over pandemic claims as Hollywood’s largest companies take a wait and see approach on who prevails in court. Unprecedented has become a buzzword amid the pandemic, but when it comes to the financial fallout from business interruptions and the resulting landscape of lawsuits against insurance companies that are denying claims, there truly has never been a fight of this scale.
The 1970s brought a wave of business interruption suits against insurers involving asbestos contamination; in the ’80s, environmental pollution led to courtroom fights; and the terrorist attacks on Sept. 11, 2001, launched a litany of legal disputes, the last of which didn’t end until 2018. Yet the legal war over COVID-related insurance claims is expected to dwarf any of those battlefields, according to those entrenched in this niche o
War and terrorism risks
For 2021, cover for war and terrorism risks will remain available from the Club in accordance with the relevant proviso to Rule 3.1.1 of the Rules of Class I.
This cover will apply in excess of an insured vessel’s proper hull value, or $500 million, whichever is the lower amount, and will be for a limit of $500 million for 2021, the same figure as that which obtains for the current policy year.
Addendum I to this Circular sets out the terms of this excess cover. It will apply to all vessels insured on fully mutual conditions in accordance with the Rules of Class I, into the cover of which these terms will be deemed to be incorporated.