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Courts across the country agree: Businesses can't use property insurance to cover their losses from closure due to Covid-19.
On March 7, 2022, the Fourth Circuit affirmed the dismissal of a creative events business’ COVID-19 business interruption claim. The court held that…
Advertisement U.K. high court extends reach of business interruption coverage for policy holders – What do U.S. insurers need to know? Tuesday, January 26, 2021 Last week, the United Kingdom’s Supreme Court issued a landmark ruling (the “Judgment”) analyzing the extent to which business interruption coverage applies to losses caused by the 2019 novel coronavirus (COVID-19) pandemic and resulting government restrictions. In a ruling that bucked the trend of most American decisions on the topic, the U.K. Supreme Court found that some losses caused by COVID-19 and consequent lo...
To embed, copy and paste the code into your website or blog: The ongoing COVID-19 pandemic has impacted the United States economy in a profoundly negative manner. Retail stores, restaurants and other direct-customer-facing businesses have been especially hard hit. Throughout the U.S., most states and municipalities have at various points throughout the pandemic issued “shut down” orders to businesses in order to mitigate the spread of the virus. Businesses complied and suffered tremendous losses as a result. As we forecasted, many businesses subsequently filed claims with their commercial...