Nordstrom, like other retailers, sustained property damage and business interruption expenses as a result of protests arising out of the Black Lives Matter movement. Although the retailer supports BLM, its insurers do not...more
Notwithstanding insurers’ transparent attempts to convince you otherwise, policyholders may very well have coverage for business interruption losses from COVID-19 under their property policies. Since the start of the...more
A North Carolina court has required Cincinnati Insurance Company to provide business interruption and extra expense coverage to 16 North Carolina restaurants that lost the use of and access to their properties due to COVID-19...more
The Panel on Multidistrict Litigation has rejected efforts to centralize pretrial proceedings in actions in Pennsylvania and Illinois seeking insurance coverage for business interruption losses resulting from COVID-19. The...more
As COVID-19 halts commercial activity throughout the United States, states have jumped into action to preserve insurance coverage for small businesses. New Jersey led the way by proposing legislation requiring property...more
As COVID-19 leads to event cancellations worldwide, the insurance market is scrambling to minimize its financial exposure to event cancellation claims. Although we have seen event policies with COVID-19 exclusions and others...more
Due to the dramatic increase and changing nature of cyber risks, mergers and acquisitions due diligence should expand to address cyber risks, available risk mitigation practices, and available insurance. Acquiring companies...more
1/29/2018
/ Business Interruption ,
Computer Fraud Insurance ,
Cyber Insurance ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Due Diligence ,
Employee Training ,
Incident Response Plans ,
Information Technology ,
Insurance Industry ,
Malware ,
Policy Terms ,
Popular ,
Ransomware ,
Risk Management ,
Risk Mitigation
Allianz’s yearly survey of nearly 2,000 risk experts from 80 countries highlights business interruption and cyber incidents as the top two major threats for companies through 2018 and beyond. Forty-two percent of responses...more