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Florida's joint legislative budget commission approved a request Friday from the state's Department of Financial Services to spend up to $1.5 million on a consultant that would explore alternative methods for rating insurance companies.
A Texas jury reached a $48 million verdict in favor of the Baylor College of Medicine in its COVID-19 coverage suit against several Lloyd's of London syndicates, thus becoming the first jury to side with a policyholder in a pandemic-era business interruption suit.
Hartford Underwriters Insurance asked a New York federal judge to dismiss a COVID-19 coverage lawsuit from a construction consulting company, arguing that the company didn't allege that anything was physically lost or damaged at its property.
The Ninth Circuit declined to rehear an appeal from Applied Underwriters Inc. accusing the California Department of Insurance of illegally putting its affiliate, California Insurance Co., into a conservatorship despite sound financials.
When a New Orleans restaurant filed a business interruption suit against its insurer seeking coverage for losses three days after the governor's pandemic order, it kicked off what a new report from Lex Machina shows was a stark increase in insurance litigation after the outbreak of COVID-19.