A small but growing number of cyber insurers are incorporating language into their policies that specifically addresses risks from artificial intelligence (AI). The June 2025 issue of The Betterley Report’s Cyber/Privacy...more
Steven Hix and G. Benjamin Milam of Bradley discuss a pair of recent North Carolina Supreme Court rulings on coverage for pandemic-related losses, one of which gave policyholders a rare win.
On December 13, the North...more
1/31/2025
/ Business Closures ,
Business Interruption ,
Commercial Insurance Policies ,
Coronavirus/COVID-19 ,
Denial of Insurance Coverage ,
Insurance Claims ,
Insurance Industry ,
Insurance Litigation ,
Loss Coverage ,
NC Supreme Court ,
Policy Exclusions ,
Policy Terms
A law recently passed by the New York State Assembly and signed by Gov. Kathy Hochul puts significant limits on the flood insurance that lenders can require borrowers to purchase on loans secured by residential real property....more
1/27/2025
/ Compliance ,
Consumer Financial Products ,
FEMA ,
Financial Institutions ,
Financial Services Industry ,
Flood Insurance ,
Insurance Industry ,
Mortgage Lenders ,
Mortgages ,
New Legislation ,
Risk Management
On December 13, the North Carolina Supreme Court gave policyholders a partial victory in long-running litigation over business interruption coverage for shutdowns during the COVID-19 pandemic. In North State Deli v....more
Most policyholders are aware of the danger of losses from fraudulent instructions and invoices accomplished through what is known as “social engineering” or related methods. Often this is carried out by an email claiming to...more
This is a deceptively simple question — risk managers rightfully expect to know the scope of their coverages when they build their insurance programs. Unfortunately, judicial interpretation of common policy terms can turn...more
In a landmark victory for policyholders, the Supreme Court of Wyoming found that a subsidiary of Sinclair Oil can invoke statutory bad faith damages after prevailing in a coverage dispute with its insurer, Infrassure. The...more
The massive economic disruption caused by the novel coronavirus pandemic raises questions about insurance coverage for business interruption losses from communicable disease. Does viral contamination constitute the “physical...more
For the 11th time in the last two years, the House has passed yet another short-term extension of the National Flood Insurance Program (NFIP). The NFIP remains the largest source of flood coverage in the U.S.; this extension...more
Following criticism from industry groups and members of Congress, FEMA has retreated from a December 27 announcement that it would stop issuing new flood policies and renewals during the ongoing partial shutdown of the...more
A new short-term extension through December 21 leaves the National Flood Insurance Program (NFIP) in limbo as Congress grapples with a lengthy to-do list in advance of the holidays. NFIP, the biggest source of flood coverage...more
Following record-setting levels of rainfall in the Carolinas from Hurricane Florence, businesses both in and outside of affected areas will likely be reviewing their flood coverage to assess how it will respond to adverse...more
The Senate’s vote Tuesday to forgive $16 billion in debt owed by the National Flood Insurance Program gives a much-needed boost for NFIP as it faces large payouts from recent hurricanes. Packaged with other disaster aid...more
Recent damage from Hurricanes Harvey, Irma, and Maria have focused attention on special “named storm” and “hurricane” deductible endorsements found in most property insurance policies issued for coastal areas. Such...more
10/25/2017
/ Deductibles ,
Hurricane Harvey ,
Hurricane Irma ,
Hurricane Maria ,
Hurricane Season ,
Insurance Claims ,
Insurance Industry ,
National Weather Service ,
Natural Disasters ,
Out-of-Pocket Expenses ,
Property Damage ,
Property Insurance ,
Severe Weather