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Runaway Litigation Is Adversely Impacting Markets, Insurance Experts Find

NEW YORK, Dec. 8-- The Insurance Information Institute issued the following news release:. The growing number of costly lawsuits are adversely impacting insurer profitability and their ability to provide coverage, according to panelists who convened last week at the Insurance Information Institute's Joint Industry Forum. Michael Menapace, an Attorney with...
United States Frank Tomasello Sherman Tiger Joyce Michael Menapace Frick Merrill Institutes Griffith Insurance Education Foundation

Hotels, Restaurants Can't Revive $40M Virus Coverage Suit

Hotels, Restaurants Cant Revive $40M Virus Coverage Suit By Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing up for any of our section newsletters will opt you in to the weekly Coronavirus briefing. Sign up for our Corporate newsletter You must correct or enter the following before you can ...
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Source: law360.com

Business, Interrupted: Insurance claims often denied for pandemic-related business closures

By Michelle Tuccitto Sullo After Lenny & Joe’s Fish Tale restaurant in New Haven sued its insurance provider for refusing to pay for business losses related to the coronavirus pandemic shutdown, a federal judge dismissed the case within just six months. U.S. District Court Judge Michael Shea in December granted AmGUARD Insurance Co.’s motion to dismiss the case, concluding the restaurant’s insurance policy’s virus exclusion meant any losses due to the pandemic weren’t co...
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Insurers rewrite business policies after pandemic legal tussles

4 Min Read NEW YORK (Reuters) - U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources say. FILE PHOTO: People walk past a shuttered restaurant amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., February 9, 2021. REUTERS/Carlo Allegri/File Photo New policies and renewals n...
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Insurers rewrite business policies after pandemic legal tussles - Netscape Money & Business

Insurers rewrite business policies after pandemic legal tussles By Alwyn Scott Reuters NEW YORK (Reuters) - U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources say. New policies and renewals now define terms like "communicable disease" or "microorganism" – something existing policies often lacked, and which led to a floo...
New York United States United Kingdom Tom Baker Lauren Tara Lacapra Alwyn Scott

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