The Calm Before the Storm: Planning for Catastrophic Weather Events
Captive insurers can offer enhanced control over coverage, claims, and premiums; however, they also face specific challenges when dealing with large-scale coverage events that have highly uncertain scopes, particularly when...more
As global threats evolve, so does the question of what constitutes a ‘war’ risk under a standard property insurance policy, and how this might impact coverage. Historically, a war was a physical conflict between two or...more
In this episode of “Don’t Take No for an Answer,” hosts Lynda A. Bennett and Michael Lichtenstein of Lowenstein’s Insurance Recovery Group provide recommendations for preparing corporate insurance policies for the next...more
“By failing to prepare, you are preparing to fail.” – Benjamin Franklin - “It wasn’t raining when Noah built the ark.” – Howard Ruff - The COVID-19 pandemic has forced us to confront an uncomfortable, ubiquitous reality...more
Over the past several weeks, we've seen legislators introduce bills to retroactively rewrite existing insurance policies to provide coverage for COVID-19 claims, and a flood of insurance coverage complaints filed across the...more
Over the past decade, as commercial property insurance rates softened, so too have terms and conditions. In some instances, attempts to broaden coverage have also had the effect of diluting the clarity and consistency of...more
Insurers and policyholders should heed the critical insurance issues that arise in the aftermath of natural disasters....more
South Carolina was recently pummeled by a devastating storm that Governor Haley described as happening “once in a thousand years.” Compounding the resultant flooding, many dam breaks exacerbated the catastrophic losses South...more
The recent Tianjin port explosion, like the 2011 Japanese earthquake and Thai floods, will lead to massive supply chain disruption. The impacted area included a high concentration of multinational and technology companies....more
In the last decade, Disaster Recovery (“DR”) and Business Continuity Planning (“BCP”) have become “hot” topics, as companies attempt to deal with disasters and the associated business risks. “Force majeure” is a legal concept...more
Suppose you are counsel for a policyholder impacted by a damaging storm, hurricane or other catastrophic event. Your client reports that it sustained property damage and a significant business interruption loss. You are asked...more
Originally published in Insurance Law360 on January 15, 2013. In the aftermath of Hurricane (or post-tropical cyclone) Sandy, insurers and insureds alike will face a number of complicated insurance coverage issues, to...more