Contingent Business Interruption coverage is usually an extension of the business interruption coverage available in most commercial property policies. It provides the insured with benefits to cover lost profits and extra expenses resulting from damage to a third party’s property. In today’s integrated business world, most businesses are highly dependant upon others for product, sales, and even customers. As businesses globalize, they become vulnerable to disasters across the globe. Even now, many businesses are waiting to realize the extent of the contingent business loss that will result from the tsunami and nuclear disasters in Japan.
The firm of Edwards Angell Palmer & Dodge will be presenting a free webinar July 28, 2011, Fallout from the Japan Disaster: Causation & Aggregation Issues Under CBI & Reinsurance Policies. They describe the focus of the webinar on their site:
The financial fallout from the March 2011 Japan earthquake and tsunami will continue to impact companies worldwide which rely on Japanese suppliers. Contingent business interruption (CBI) insurance, which indemnifies an insured for financial loss caused by damage to its suppliers’ property, will be the focus of UK and US companies seeking to recoup losses arising out of Japanese supply chain interruptions.
This webinar will focus on the complex causation issues likely to impact coverage of CBI claims, including the interplay between covered, non-covered and excluded perils, as well as how anti-concurrent causation clauses may limit coverage of CBI cliams.
To register for the webinar, click here.