Insurance Journal

SEPTEMBER 24, 2024

Insurers have failed to win dismissal of a federal COVID-19 business interruption lawsuit against them by the luxury hotel chain Mandarin Oriental. Judge John P. Cronan of U.S District Court in New York found that endorsement language about coverage for …

Business Interruption 162

Business Interruption Claim Insurance Insurer 162

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 191

Business Interruption Theft Insurance Insurer 191

Property Insurance Coverage Law

OCTOBER 27, 2024

The recent voluntary dismissal of the Erie COVID-19 Business Interruption Protection Insurance Litigation marks the end of a significant chapter in insurance coverage law.1

Business Interruption 100

Business Interruption Policyholder Property Insurance Insurance 100

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 Policy Claim 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

Paragon Independent Insurance Agencies

NOVEMBER 15, 2024

It covers claims of negligence or mistakes in the services you provide, helping maintain your business’s reputation and financial stability. Why Business Interruption Insurance Matters Business interruption insurance is your safety net during unforeseen events that pause your operations.

Business Insurance 40

Business Insurance Business Interruption Professional Liability Insurance General Liability 40

Protect Commercial Insurance

MAY 24, 2024

With the increasing frequency and sophistication of cyberattacks, having cyber liability insurance is essential to protect your business’s sensitive information and maintain the trust of your customers. Conclusion Protecting your business with the right insurance policies is crucial for its long-term success.

Insurance Policy 52

Insurance Policy Protection Policy Business Interruption 52

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

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

Protect Commercial Insurance

MAY 30, 2024

Professional liability insurance , also known as errors and omissions insurance, is crucial for service-based businesses and protects against claims of negligence or inadequate work. It provides coverage for lost income, ongoing expenses, and additional costs incurred during the period of interruption.

Cyber 52

Cyber Business Insurance Business Interruption Professional Liability Insurance 52

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

Protect Commercial Insurance

NOVEMBER 15, 2024

There are several types that cater to different aspects of a business: – Property Insurance : This covers physical assets like buildings, equipment, and inventory against damages. – Liability Insurance : Protects businesses against claims of negligence or harm caused by their products or services.

Commercial Insurance 52

Commercial Insurance Commercial Protection Business Interruption 52

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

ProWriters

OCTOBER 2, 2024

They Don’t Understand What Cyber Insurance Offers Many business owners believe Cyber Insurance policies aren’t worth the expense because they don’t provide much coverage.

Insurance Broker 93

Insurance Broker Cyber Broker Protection 93

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

Distinguished

OCTOBER 30, 2024

In some cases, commercial projects may require additional coverage, such as loss of rental income, business interruption costs, and extra expenses if the completion of the project is delayed. Commercial construction can also involve higher total insurable value (TIV) and more complex coverage needs.

Commercial 52

Commercial Risk Broker-Agent Inland Marine 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

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 Claim 52

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

ProWriters

NOVEMBER 17, 2024

Policies can help cover the costs of ransom payments, data recovery, business interruptions, and more. Carry Cyber Insurance Cyber Liability Insurance provides an additional layer of financial protection against ransomware attacks.

Cyber 52

Cyber Insurance Insurer Insured 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

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 234

Policyholder Insurance Insurer Insured 234

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 286

Business Interruption 286

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 265

Business Interruption Cyber 265

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

InsuredMine

OCTOBER 25, 2024

These products will become increasingly sophisticated, utilizing real-time data from sensors and satellites to offer protection against various risks, from natural disasters to business interruption. The appeal lies in their transparency and rapid claims settlement, eliminating the need for lengthy claims assessment processes.

Risk 52

Risk Insurance Industry Business Interruption Claim 52

Insurance Journal

OCTOBER 30, 2024

Surgery schedules around the country may be washed out for several more weeks while a crucial IV and sterile fluids factory remains shut down for hurricane-related damage. People often plan non-emergency surgeries in the fall and early-winter months when their …

Damage 248

Damage Business Interruption Property Insurance Claim 248