Who can incur losses associated with cryptocurrency or digital assets? The real question is who uses them.
Among the most obvious users would be exchanges in which cryptocurrency is traded. It has been reported that the largest insurance market in
Latest from Hunton Insurance Recovery Blog - Page 15
Hunton Insurance Group Advises Policyholders on Issues That Arise With Insurance Coverage for Digital Assets, Specifically Cryptocurrency and NFTs — A Seven-Part Series
Crypto markets are experiencing the greatest crash in their history to date. The value of a Bitcoin (BTC) has plummeted 70% from its peak and Ethereum (ETH) has fallen 77%. Since last November, the value of cryptocurrency tokens has lost
Texas Jury Finds Presence of SARS-CoV-2 Virus Causes “Physical Loss or Damage” to Property, Awards Over $48 Million to Baylor College of Medicine
A Texas jury has found that the presence of SARS-CoV-2 virus on the property of Baylor College of Medicine (BCM) caused “physical loss or damage” and resulting economic loss, triggering coverage under BCM’s commercial property insurance program. The jury awarded
California Holds Stolen Cryptocurrency Does Not Qualify as “Physical” Loss Under Homeowners’ Policy
From IRS rulings that “virtual currency” is taxed as “property” to an SEC lawsuit claiming that digital assets are “securities” under federal law, meteoric growth of the largely unregulated crypto industry has raised numerous questions about whether crypto-related risks are
Is Your Business Ready For A Hurricane?
Despite the seemingly calm tropics, hurricane season is still going strong and will be for another two months. Is your business prepared in the event a hurricane hits? Andrea DeField and Alice Weeks recently published an article in Risk Management
Back to School Blues: Risk Exposures Affecting Higher Education
Like other policyholders, hard insurance market trends, aggravated by cybersecurity risks, climate change, and COVID-19, have hit higher education policyholders, yielding reduced or limited coverages for increased premiums. These conditions – reduced coverages and higher premiums – are symptoms of
NY Federal Court Rules Insurer Must Cover Policyholder’s Landlords Under Lease Agreement’s Indemnity Provision
Last week, a New York federal court ruled that an insurer’s “exceedingly broad duty to defend the insured” extended to the policyholder’s indemnification of its landlords in an underlying tort claim. ConMed Corporation (“ConMed”), a medical technology company, filed suit
“Imposed by Law”: Coverage for Contract-Based Liabilities
An oft-seen version of the insuring agreement in Commercial General Liability (CGL) policies provides that the insurance company will pay for “any and all sums” the policyholder is “legally obligated to pay” for liabilities “imposed by law” or “assumed under
Representations and Warranties Claims Expected to Return to Normal Levels
Hunton Andrews Kurth LLP partner Syed Ahmad was quoted on July 20 in a Law360 article titled “R&W Insurance Claim Frequency Expected To Normalize.” The article discussed the recent reduction in R&W claims and industry experts’ expectations that
Super Lawyers Recognized Five Lawyers from Hunton’s Insurance Recovery Group
Partners, Larry Bracken, Lorie Masters, and Koorosh Talieh (KT), were each recognized as Super Lawyers, while associates Yaniel Abreu and Rachel Hudgins were selected as Rising Stars for Insurance Coverage in 2022. Super Lawyers, part of Thomson Reuters,