What is an insurance company “in run-off”?
An insurance company is considered to be in run-off when it ceases selling new insurance policies. The essential business of an insurance company is risk pooling. Insurance companies evaluate risks, price and sell
Continue Reading Insurance companies in run-off
Part II: exclusions, considerations, filing a claim, and tips
This is the second part of a two-part blog series titled, “Music to my ears: Insurance coverage for musical instruments”. Part I covers policy options.
Professional and amateur musicians alike can
Continue Reading Music to my ears: Coverage considerations for musical instrument insurance (Part II of II)
Part I: Policy options
This is the first part of a two-part blog series titled, “Music to my ears: Insurance coverage for musical instruments”. Part II covers exclusions, considerations, filing a claim, and tips.
Musical instruments can cost significant sums
Continue Reading Music to my ears: Coverage considerations for musical instrument insurance (Part I of II)
More than a year has passed since COVID-19 first plagued the United States and impinged on the health of more than 34 million Americans. Hundreds of thousands of businesses have shuttered due to the pandemic. Policyholders have relied, and will
Continue Reading Five COVID-19 business interruption appeals to keep an eye on
Under standard property policies, insurers are broadly claiming that the pollution exclusion applies to bar coverage for losses caused by the COVID-19 pandemic. But the insurer in Essentia Health v. ACE American Insurance Company, which involved a Premises Pollution Liability
Continue Reading Consistency not a concern for insurers fighting COVID-19 business loss claims, but policyholders can take advantage of divergent coverage positions
The United Kingdom Supreme Court (UKSC) handed down its judgment on 15 January 2021 in The Financial Conduct Authority v. Arch Insurance (UK) Limited and Others. This test case was brought by the FCA on behalf of SME business
Continue Reading FCA v. Arch and others – The UK Supreme Court’s final word on business interruption insurance losses in light of the COVID-19 pandemic
The COVID-19 pandemic has caused a wave of business interruption lawsuits, particularly between policyholders and their insurance companies. Initially, the nationwide trend was in favor of insurance companies, but recent decisions confirm that policyholders are gaining traction.
Policyholder arguments gather
Continue Reading Recent pro-policyholder COVID-19 business interruption decisions
Directors’ and officers’ liability (D&O) insurance protects the personal assets of corporate directors and officers in the event of a lawsuit or other “claim” made against them for, among other things, an alleged breach of their duties in managing the
Continue Reading D&O insurance basics (Part 2)
This is the first of two posts discussing several major aspects of directors’ and officers’ liability (“D&O”) insurance coverage. Companies approaching a policy renewal deadline, looking to place D&O insurance for the first time, considering increasing the size or structure
Continue Reading D&O insurance basics (Part 1)
A concert promoter cancels a sold-out show of a world-renowned recording artist, reimbursing millions of dollars in ticket sales as a result. If the reason for the cancellation was COVID-19, does insurance cover that?
Event Cancellation Insurance Basics
Event cancellation
Continue Reading COVID-19 event cancellation insurance – good news and bad news
