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Business Interruption Insurance Regulations Coronavirus/COVID-19

Alston & Bird

Insurance Insights for the Cold, Dark Winter Nights

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Welcome to the latest issue of Insurance Insights, a gathering of notable legal developments and trends relevant to the insurance industry. In this issue, fires alter the landscape of California insurance, an expert’s...more

Hogan Lovells

Insurance regulatory news, April 2021 # 3

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Solvency II: PRA supervisory disclosures - The UK Prudential Regulation Authority (PRA) has published Solvency II: Supervisory disclosures, PRA’s supervisory approach and insurance regulations applicable in the UK year-end...more

Hogan Lovells

Insurance regulatory news, March 2021 # 5

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Settling RTA whiplash-related injuries without a medical report - The Civil Liability (Specification of Authorised Persons) Regulations 2021 (SI 2021/326) have been published, together with an explanatory memorandum. The...more

Hogan Lovells

Insurance regulatory news, March 2021 # 4

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UK Solvency II: PRA PS2/21 on expectations for work of external auditors on matching adjustment - The UK Prudential Regulation Authority (PRA) has published a policy statement, PS2/21, setting out its expectations for the...more

Hogan Lovells

Insurance regulatory news, March 2021 # 2

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COVID-19: FCA final guidance on proving presence of COVID-19 in BI insurance claims - Following consultation, the UK Financial Conduct Authority (FCA) has published final guidance on proving the presence of coronavirus...more

Hogan Lovells

Insurance regulatory news, February 2021 # 4

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COVID-19: FCA update on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case....more

Hogan Lovells

Insurance regulatory news, February 2021

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COVID-19: FCA Dear CEO letter on BI insurance test case and outcome table - On 22 and 29 January 2021, the FCA updated its webpage on its business interruption (BI) insurance test case. The FCA has published ...more

Butler Weihmuller Katz Craig LLP

Covid and Coverage in the UK: Language Matters

In a recent opinion, the UK Supreme Court has found coverage for business interruption as a result of business closures incident to the Covid-19 pandemic.  While some may see that decision as support for coverage suits in the...more

Hogan Lovells

Insurance regulatory news, January 2021 # 2

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COVID-19: Supreme Court judgment in FCA's BI insurance test case - On 15 January 2021, the Supreme Court handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 on the issues on appeal from the High...more

Hogan Lovells

Insurance regulatory news, December 2020 # 3

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2021 priorities for supervising insurance firms: PRA Dear CEO letter The UK Prudential Regulation Authority (PRA) has published a Dear CEO letter it has sent to insurance firms setting out its supervisory priorities for...more

Cohen & Gresser LLP

Business Interruption Insurance – A UK Update

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For many UK businesses with business interruption (“BI”) insurance policies, a high priority this autumn was keeping up with a rapidly changing regime of coronavirus-related restrictions – changes which last week culminated...more

Hogan Lovells

Insurance regulatory news, October 2020 # 4

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Brexit: PRA and FCA Dear CEO letter on final preparations for end of transition period - The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published a joint Dear CEO letter that they...more

Hogan Lovells

Insurance regulatory news, October 2020 # 2

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COVID-19: FCA updates webpage on BI insurance test case - The UK Financial Conduct Authority (FCA) has updated its webpage on its business interruption (BI) insurance test case, publishing a draft transcript of the...more

Hogan Lovells

Insurance regulatory news, September 2020 # 4

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COVID-19: FCA Dear CEO letter and consequentials hearing for BII test case - On 18 September 2020, the UK Financial Conduct Authority (FCA) published a Dear CEO letter setting out its expectations of insurers (including...more

Hogan Lovells

Insurance regulatory news, September 2020 # 2

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COVID-19: business interruption insurance test case judgment due on 15 September 2020 - On 9 September 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court business interruption insurance...more

Hogan Lovells

Insurance regulatory news, August 2020 #2

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COVID-19: FCA statement on non-damage BI settlements and deductions relating to government support - The UK Financial Conduct Authority (FCA) has published a statement on non-damage business insurance (BI) settlements and...more

Hogan Lovells

Insurance regulatory news, July 2020 #4

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COVID-19: FCA updates on business interruption insurance test case - The UK Financial Conduct Authority (FCA) has published a number of updates to its webpage on the High Court test case concerning business interruption...more

Hogan Lovells

Insurance regulatory news, July 2020 #3

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COVID-19: FCA update on business interruption insurance test case - On 13 and 15 July 2020, the UK Financial Conduct Authority (FCA) updated its webpage on the High Court test case concerning business interruption...more

Hogan Lovells

Insurance regulatory news, July 2020 #2

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COVID-19: PRA statement to insurers on application of matching adjustment - On 7 July 2020, the UK Prudential Regulation Authority (PRA) published a statement to insurers on the application of the matching adjustment (MA)...more

Hogan Lovells

Insurance regulatory news, June 2020 #3

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Insurance stress test 2019 and COVID-19 stress testing: FCA feedback - The UK Prudential Regulation Authority (PRA) has published a Dear CEO letter giving feedback to general and life insurers that participated in the 2019...more

Hogan Lovells

Insurance regulatory news, June 2020 #2

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Recent regulatory developments of interest to insurers and their intermediaries. Includes FCA update on COVID-19 business interruption insurance test case and EIOPA discussion paper on insurance value chain and new business...more

Bricker Graydon LLP

Coronavirus and captives...the new future of insurance?

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In 2014, the State of Ohio had the foresight to pass a captive insurance bill (H.B. 117). While captive insurance companies were allowed to operate in Ohio, captive domestics were prohibited in the Buckeye State. At the time,...more

Morgan Lewis

COVID-19: DC Council to Consider Legislation Mandating Business Interruption Coverage

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Following in the footsteps of several state legislatures, the Council of the District of Columbia plans to consider on May 5 draft legislation that would require insurers to provide coverage for business interruption losses...more

Troutman Pepper Locke

PA Introduces Legislation That Would Rewrite Business Interruption Insurance Policies To Cover COVID-19 Losses

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Pennsylvania recently joined the movement to introduce legislation that would override insurance policy language and require carriers that have issued commercial liability policies — specifically policies covering business...more

Bricker Graydon LLP

Business interruption insurance coverage and COVID-19

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COVID-19 has certainly had an impact on business operations, and the potential implications of insurance coverage in this time can cause unprecedented uncertainty and anxiety. ...more

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