We’ve written before about the perils of contractual limitations periods in insurance policies. See http://bizinsandouts.com/2019/04/04/policyholders-should-be-prepared-to-address-short-limitations-periods-under-property-business-interruption-policies-or-risk-of-losing-their-rights-to-coverage/ ; http://bizinsandouts.com/2019/06/13/policyholders-beware-courts-continue-to-enforce-short-limitations-periods-to-dismiss-property-insurance-lawsuits/ The problem is that, while state law may provide a statute of limitations period of five years or more, from when the insurer refuses to provide coverage, insurers often add provisions to their Read More
Since the onset of the pandemic, we’ve written a series of posts on insurance coverage for COVID-19 related losses. In our April 23 post, we wrote that, despite articles expressing a dim view of the possibility of coverage for COVID-19 related business interruption losses, there were many reasons to consider Read More
In our last post, we said that there are many reasons why a business should consider submitting a claim to their insurer for COVID-19 related business interruption losses. See http://bizinsandouts.com/2020/04/23/advice-about-business-interruption-insurance-coverage-for-covid-19-related-losses/. At the time, many businesses had suffered losses due to a suspension of operations beginning in mid-March. Some businesses already Read More
Over the last several days a multitude of conferences, shows, concerts, ceremonies, sporting events and other gatherings have been cancelled, curtailed, or postponed because of the COVID-19 pandemic. While business insurance coverage for many exposures and losses attributable to COVID-19 can be murky, Event Cancellation Insurance policies provide relevant types Read More
Clients often call when a claims-made liability insurer does not intend to renew an expiring policy. Usually, the call is about directors and officers (D&O) liability insurance, but it might also be about fiduciary, employment practices, or professional liability insurance. An insurer may choose to non-renew for various reasons. The Read More