Property Insurance Coverage Law

AUGUST 14, 2024

Fires, thefts, and other unexpected events can bring business to a halt, leading to significant revenue losses. That’s where business income insurance comes in. Business income insurance, also known as business interruption insurance, helps cover the loss of income … The post What Is Business Income Insurance?

Business Interruption 175

Business Interruption Theft Property Insurance Insurance 175

Prof. Allan Manning

FEBRUARY 24, 2024

L oss Management International (Post loss Claims Preparation and Loss Adjusting) , Risk Management International (Pre Loss policy program reviews and business interruption sum insured reviews), and Claims Management International (Post Loss Third Party Administration services) based in Melbourne, Australia.

Business Interruption 130

Business Interruption Claim Policy Insurance Industry 130

Prof. Allan Manning

JULY 29, 2024

A wide range of topics were covered from an update on recent court cases involving general insurance claim decisions, a detailed analysis of the Reasonable Care Condition found in many policies by LMI Legal, lessons learned from business interruption losses by LMI Forensics, issues around storm damage to solar panels by LMI Claims, a detailed run through (..)

Claim 130

Claim Business Interruption License Policy 130

The Property Insurance Law Observer

SEPTEMBER 23, 2024

The Claim The insured purchased an all-risk insurance policy, providing coverage for property damage, business interruption, and contingent business interruption, among other covered causes and types of loss at the manufacturing facility. It was later determined that there was a leak from a compressed air line.

Damage 130

Damage Business Interruption Property Damage Policy 130

Prof. Allan Manning

FEBRUARY 24, 2023

A number of pre loss services are also provided by the LMI Group, including Business Interruption Sum Insured Reviews, Policy Drafting, Insurance Program Reviews, Risk Surveys, and Risk Engineering Services along with Business Continuity Management Services, and Cyber Security Reviews.

Insurance Industry 130

Insurance Industry Business Interruption Claim Insurance 130

Paragon Independent Insurance Agencies

MAY 27, 2024

Commercial Insurance Information Commercial insurance consists of policies to safeguard businesses when financial losses are inevitable. These events may include property damage, liability claims from work-related injuries, break-ins, or business interruption.

Commercial Insurance 40

Commercial Insurance Commercial Protection Business Interruption 40

Triple-I: Business Insurance

OCTOBER 1, 2024

Another way the insurance industry would be affected is from losses from coverage protecting against adverse business costs of events, such as strikes. These coverages include, but are not limited to, business interruption, political risk, credit, supply-chain insurance, and some marine and cargo.

Insurance Industry 52

Insurance Industry Business Interruption Commercial Property Commercial 52

Risk Management Monitor

JUNE 13, 2023

Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US X-NONE X-NONE As the hurricane season gets underway, the following tips can help businesses update and strengthen natural disaster recovery plans: Review your business interruption insurance. Update your current disaster recovery plan.

Business Interruption 40

Business Interruption Claim Risk Insurance Policy 40

Jackson & Jackson

APRIL 26, 2024

It provides coverage for physical damage to your property and any loss of income due to business interruption. Business Interruption : If your business operations are halted due to covered damage to your property, this coverage can compensate for lost income and help pay ongoing expenses.

Commercial Property 52

Commercial Property Property Insurance Commercial Business Interruption 52

Jackson & Jackson

APRIL 10, 2024

Business Interruption Insurance Unexpected events can disrupt your operations, leading to significant financial loss. Business interruption insurance compensates for lost income during these periods, helping you keep your business afloat until you can resume normal operations.

Commercial Property 52

Commercial Property Commercial Business Interruption Out-Of-Pocket Expense 52

Jackson & Jackson

APRIL 28, 2024

Specialized risks, such as floods, earthquakes, and business interruptions, require additional coverage, which many investors should pay more attention to. Think about business interruption insurance to protect your income stream during repairs. In California, consider adding earthquake and flood insurance.

Business Interruption 52

Business Interruption Out-Of-Pocket Expense Out-Of-Pocket Broker-Agent 52

LexisNexis

AUGUST 27, 2024

Learn about the steps businesses should take to recover on the business interruption, including contract and indemnity claims, caused by this software failure.

Cyber 40

Cyber Business Interruption Insurance Carrier Insurance Policy 40

Protect Commercial Insurance

JUNE 27, 2024

Insurance policies such as property, liability, and professional indemnity can provide a crucial safety net, making it essential for businesses of all sizes. This type of insurance doesn’t grant carte blanche coverage for all possible interruptions. However, this type of insurance typically has defined limits and exclusions.

Commercial Insurance 52

Commercial Insurance Commercial Cyber Business Interruption 52

ProWriters

MAY 28, 2024

Business Interruption Exposure Business interruption coverage compensates contractors for the income they lose as a result of a cyber event. It can also cover additional expenses incurred to temporarily relocate and resume operations while the contractor’s systems or the systems of a supplier are being restored.

Cyber 52

Cyber Business Interruption Insurance Insurer 52

Mark Jackson Insurance Agency

MAY 21, 2024

Identifying Gaps in Coverage A comprehensive review of your current insurance policies can reveal gaps in coverage that might leave your business vulnerable. Consultation with an Insurance Agent Understanding where your home insurance ends and business insurance begins can be complex.

Liability 52

Liability Business Interruption Professional Liability Insurance Home Insurance 52

Risk Management Monitor

JUNE 9, 2023

For businesses, take this as a reminder to examine how your organization will handle fallout from wildfires, for example, reviewing your property insurance, business interruption coverage, disaster recovery plans or emergency communications procedures.

Business Interruption 40

Business Interruption Risk Claim Property Insurance 40

Protect Commercial Insurance

JANUARY 21, 2021

FCA Test Case: Response of non-damage business interruption extensions to COVID-19 losses Supreme Court Decision: Update 19 January 2021 The Supreme Court judgment in the FCA Business Interruption Test Case was published on Friday 15 January 2021.

Business Interruption 52

Business Interruption Policyholder Claim Commercial 52

Cowbell

OCTOBER 11, 2024

Cybercriminals will often target small businesses that may be scrambling to resume operations and are less likely to be vigilant about cybersecurity in the wake of a disaster. This can add another layer of complexity while trying to limit business interruption.

Cyber 52

Cyber Business Interruption Policyholder Protection 52

Protect Commercial Insurance

JULY 26, 2024

Business Interruption Insurance In the event of a covered loss, such as a fire or natural disaster, business interruption insurance can help cover the loss of income and ongoing expenses while your business is temporarily closed or unable to operate. It covers legal fees, settlements, and judgments.

Commercial 52

Commercial Insurance Broker General Liability Business Interruption 52

Triple-I: Business Insurance

APRIL 24, 2023

Investment in a lightning protection system could have saved this business owner – and his insurer – the million dollars lost and prevented business interruption. They had damaged inventory, production downtime, and loss of revenue during the repairs.” Lightning strikes about a 100 times every second,” Harger said.

Risk 52

Risk Business Interruption Damage Protection 52

Cowbell

SEPTEMBER 23, 2024

Being proactive and understanding the unique risks associated with Insider Threats not only safeguards your organization from potential security breaches, but also mitigates business interruptions, protects your reputation, and fosters a more secure and resilient digital ecosystem.

Cyber 104

Cyber Business Interruption Risk Protection 104

Risk Management Monitor

DECEMBER 3, 2021

Those that do make the connection are on the path to better mitigating financial exposure, reputational damage, business interruption, and other losses. Most organizations do not connect resilience planning with their long-term investment strategy. A false sense of security can halt an organization in its tracks.

Risk 45

Risk Building Business Interruption Cyber 45

Insurance Journal

SEPTEMBER 6, 2024

The owners of London’s ExCel conference center on Friday won an appeal brought by insurers, including Allianz, over pandemic-related losses, which its lawyers said could help thousands of other policyholders. London International Exhibition Centre Plc took legal action at London’s …

Policyholder 260

Policyholder Insurance Insurer Insured 260

Risk Management Monitor

MARCH 4, 2022

A wide range of risks are trickling down from Russia’s assault on Ukraine , from sanctions compliance to supply chain disruption to business interruption.

Cyber 56

Cyber Business Interruption Risk Policy 56

Insurance Journal

OCTOBER 10, 2024

The global economy could be exposed to losses of US$14.5 trillion over a five-year period from the threat of a hypothetical geopolitical conflict causing widespread disruption to global trade patterns and supply chains, according to a report published by Lloyd’s, …

Business Interruption 271

Business Interruption Risk Insured Insurance 271

Insurance Journal

JULY 22, 2024

Delta Air Lines Inc. expects to cancel more flights this week as the carrier tries to recover from a crippling technology outage. The airline canceled more than 800 flights as of Monday afternoon, bringing its total since Friday’s meltdown to …

Business Interruption 287

Business Interruption Cyber 287

Insurance Journal

JULY 19, 2024

In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp. and CrowdStrike have rolled out …

Business Interruption 290

Business Interruption 290

Insurance Journal

OCTOBER 4, 2024

The Pennsylvania Supreme Court has reversed lower court rulings and denied a dentist’s bid for insurance coverage for loss of use of his offices due to the COVID-19 pandemic. The high court concluded in a case involving CNA and Valley …

Insurance 278

Insurance Insurer Insured Business Interruption 278

Insurance Journal

OCTOBER 1, 2024

CONYERS, Ga. (AP) AP) — Some residents east of Atlanta were evacuated while others were told to shelter in place Sunday to avoid contaminants from a chemical plant fire that sent a massive plume of dark smoke high into the sky …

Business Interruption 279

Business Interruption Policy Liability Insured 279

ProWriters

FEBRUARY 19, 2024

Business Interruption Losses: Retailers can receive compensation for lost income and operational expenses incurred during a shutdown caused by a cyber attack. Key benefits include: Data Breach Response: It covers expenses related to managing a data breach, such as customer notification, credit monitoring services, and legal fees.

Cyber 52

Cyber Insurance Insurer Insured 52

Hunton Andrews Kurth

MARCH 11, 2021

Given the heightened risk to its business posed by a disruption stemming from food contamination, Nashville Underground purchased a special coverage for business interruption due to “Food Contamination.” food-related illness of one or more persons arising out of . . .

Business Interruption 52

Business Interruption Injury Policy Policyholder 52

Prof. Allan Manning

OCTOBER 7, 2024

LMI continues to grow in claims work and as a result both LMI Group and Aequum Adjusters are looking to hire loss adjusters and or claims preparers in virtually every state and territory in Australia and New Zealand. The positions range from trainee, to highly experienced.

Claim 244

Claim Business Interruption Property Insurance Insured 244

Insurance Journal

JULY 30, 2024

Delta Air Lines has hired a law firm and will seek compensation from Microsoft and CrowdStrike over a global cyber outage earlier this month that disrupted flights around the world, CNBC reported on Monday. The Atlanta-based airline has been the …

Cyber 299

Cyber Compensation Business Interruption Commercial 299

Insurance Journal

AUGUST 26, 2024

RALEIGH, N.C. (AP) AP) — A North Carolina racetrack, shuttered briefly for defying state gathering limits during the pandemic, can sue the top health regulator on allegations that Gov. Roy Cooper’s administration violated the constitutional rights of its operators by trying …

Business Interruption 263

Business Interruption Claim 263

Insurance Journal

AUGUST 13, 2024

Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers’ credit profiles, according to credit agency Morningstar DBRS, in a market commentary. The main reason for manageable claims …

Claim 264

Claim Insurance Insurer Insured 264

Insurance Journal

JULY 23, 2024

Facing a future of shortages, California is entering a new phase of water conservation: Cities and towns must meet new mandates ramping down use over the next 15 years — and some will be hit harder than others. Approved two …

Business Interruption 264

Business Interruption 264

Insurance Journal

OCTOBER 21, 2024

Weeks after a chemical warehouse fire in Rockdale County, Georgia, released plumes of toxic smoke, nearby residents can now leave their homes at night after officials lifted a shelter in place order. For the lab’s owner and investors, the trouble …

Business Interruption 147

Business Interruption Property Insurance Claim Liability 147