Insurers tell UK court they can’t provide unlimited virus cover
Major insurance companies told the U.K. Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British businesses devastated by the coronavirus crisis. Read more here.
NAIC 2020 Fall National Meeting to Include Special Session on Business Interruption
The NAIC Center for Insurance Policy and Research (CIPR) will hold a three-hour special session during the NAIC 2020 Fall National Meeting. The special session titled “Pandemic Business Interruption Federal Insurance Mechanism – Learning from the Past, Thinking About the Future” will take place Tuesday, December 8, 2020 from 10 a.m. – 1:00 p.m. Central Time. Read more here.
Insurer to Appeal Restaurants’ Win in North Carolina COVID Business Interruption Case
A judge in Durham County, North Carolina has handed down what may be the nation’s first dispositive ruling in favor of policyholders in a COVID-19 business-interruption lawsuit. Read more here.
FAIR releases a digital BI insurance explainer
The Future of American Insurance and Reinsurance (FAIR) has released a new interactive tool to help showcase the need for a federal solution to pandemic relief. The Business Interruption Insurance “explainer” utilizes digital storytelling techniques to help clarify information about this complex topic.
Court: Broker not liable for COVID-19 business interruption claim denial
After an insurance carrier denied a lawyer and her law firm’s claim for lost business income due to the COVID-19-related shutdown, she sued both her carrier and the insurance producer that procured the policy. Read more here.
Houston Rockets Lawsuit Against RI Insurer Is Playing Out in, Not on, a RI Court
Playing out in a Rhode Island courtroom is a legal battle between the NBA’s Houston Rockets’ parent company and the arena the team plays in, as they are suing Rhode Island-based FM Global — a case that could be worth hundreds of millions of dollars or potentially far more. Read more here.
Insurer seeks dismissal of COVID-19 suit filed by McDonald’s, franchisees
An insurer has filed a motion to dismiss a lawsuit filed by McDonald’s Corp. and two of its franchisees over the insurer’s refusal to defend them in COVID-19 litigation filed by the fast-food chain’s employees. Read more here.
LA Restaurant Loses Legal Battle in Ongoing Coronavirus Insurance Fight
A Los Angeles restaurant faced a legal setback in a lawsuit against its insurance company this week, setting precedent for what could be a tough round of claim denials for restaurants negatively affected by the ongoing coronavirus pandemic. Read more here.
Hollywood’s Insurer Braces for Claims Due to COVID-Related Movie, TV Shutdowns
Allianz SE, Europe’s largest insurer, is bracing for a flood of claims after movie and television studios were forced to curtail production during lockdown. Read more here.
Hartford, Travelers Won’t Face Combined Virus-Loss Claims
Hartford Financial Services Group, The Travelers Cos. Inc. and other insurers won’t have to face a consolidation of hundreds of billions of dollars’ worth of business-interruption claims tied to the Covid-19 outbreak, a group of judges concluded. Read more here.
German Court Rules Insurer Must Pay Restaurant’s Lockdown Claim
A German court has ruled that a Munich restaurant’s insurer must pay out a claim for losses caused by the state-imposed COVID-19 lockdown earlier this year, the first prominent such case in Germany in which the court found in favor of the plaintiff. Read more here.
Advising Capitol Hill on insurance
While other companies have been asking lawmakers for aid and support during the coronavirus pandemic, insurance company Allstate has spent its time lobbying against government intervention in their work. Read more here
Ohio Governor Signs COVID-19 Legislation
Ohio Gov. Mike DeWine signed into law legislation that protects businesses and others from lawsuits arising from exposure to COVID-19. The legislation follows similar laws enacted by Georgia, Idaho, Nevada and Tennessee. Read more here.
Travelers wins business interruption lawsuit case
A federal judge in California has ruled that Travelers Casualty Insurance Company of America is not obligated to cover the pandemic-related business losses of a San Francisco-based retailer. Read more here.
UK policyholders hail victory in battle over COVID-19 insurance claims
London judges have ruled that some of the world’s biggest insurers were wrong to reject tens of thousands of claims from small firms battered by the COVID-19 pandemic. Read more here.
Coronavirus Legal Fight Between Insurers and Businesses Goes Global
A debate over whether business-interruption insurance policies held by millions of companies cover a pandemic is increasingly being tested in global courts, drawing in regulators, insurers, industry groups and company owners. Read more here.
Insurer Says Rejection Of COVID-19 Loss Suits Growing Daily
Aspen American Insurance Co. has told a Texas federal court that it should follow the “daily-growing” number of courts rejecting businesses’ claims seeking COVID-19 closure coverage, since its policyholder, a Minnesota dental office, failed to show physical damage from its claimed revenue loss. Read more here.
Insurer wins COVID-19 dispute with barbershops
A federal court ruled a pair of San Diego barbershops can’t recover income lost due to coronavirus-related shutdowns from their insurer. Read more here.
SF Retailer Can’t Get COVID-19 Income Loss Coverage
A California federal judge on Monday found that Travelers Casualty Insurance Co. of America doesn’t need to cover a San Francisco retailer’s business losses resulting from COVID-19 shutdowns, saying the retailer hasn’t alleged it has suffered physical damage to or loss of its property. Read more here.
Customers sue Allstate and other large auto insurers for bigger rebates
The lawsuits allege that large car insurance companies didn’t provide enough financial relief as Illinois motorists stayed off the road during the height of the pandemic. Read more here.
Usage-based insurance gaining steam among consumers
63% of U.S. consumers are open to changing their current auto insurance policy for one that has a telematics-based premium. Read more here.
Miles driven set to drop with increased work-from-home
Working from home and online shopping have become the new normal and that will reduce driving in the U.S. by up to 270 billion miles a year, according to new study. Read more here.
Progressive reveals profits in face of pandemic refunds
Despite reporting a significant drop in claims and providing auto insurance customers with premium refunds, Progressive generated a substantial profit during the pandemic – a detail that consumer advocates believe is unfair to customers. Read more here.