Category: COVID-19

FCA Test Case: The Perils of Business Interruption Insurance and COVID-19

Richard Hopley and Sam Tacey have recently published an article in Zeitschrift für Versicherungswesen concerning the recent FCA test case. It can be read here. Since the article was published, the Supreme Court has confirmed it will hear a leapfrog appeal of the decision in a four day hearing commencing […]

Reinsurance in the Time of COVID-19 – Part 3

In part 3 of our blog series on reinsurance issues arising from COVID-19, we consider the implications of “reopening” the economy on reinsurance exposure.

Reinsurance in the Time of COVID-19 – Part 1

The World Health Organization classified the coronavirus (COVID-19) as a pandemic on 11 March 2020 and, since that time, the pandemic has caused unprecedented socio-economic disruption across the globe with a profound impact on businesses and civil liberties. In such times of dramatic economic instability, it is natural that companies […]

COVID-19 Lawsuits Could Lead to Wave of Insurance Claims

As shelter-in-place orders begin to ease and businesses reopen, companies should be prepared for a potential wave of lawsuits from customers and employees who may claim to have contracted COVID-19 on their premises. In response, Congress is currently considering legislation to shield companies from liability provided that they follow federal […]

FCA Announces It Will Commence Proceedings to Seek Clarity Over BI COVID-19 Coverage

On 1 May 2020, the Financial Conduct Authority, the UK’s conduct regulator for general insurers, published a statement announcing that it intends to take a representative sample of cases to court as soon as possible to resolve contractual uncertainty in business interruption cover for SMEs. The FCA refers to continuing […]

Ongoing COVID-19 Related Insurance Coverage Litigation: What You Need to Know

As the coronavirus pandemic continues to lead to the closing of many bars, restaurants, movie theaters and other venues, businesses have predictably turned to their insurance policies to cover coronavirus-related losses. In the last month alone, businesses have filed several insurance coverage lawsuits concerning these issues, which may have important […]

Business Interruption Cover and the Coronavirus

The UK government announced yesterday that its current measures relating to the use of public spaces such as bars and restaurants would be sufficient to trigger some business interruption policies, with the Chancellor of the Exchequer, Rishi Sunak stating, “Let me confirm that, for those businesses which do have a […]

Your Insurance Checklist for Coronavirus Losses

With the constantly changing landscape and the obvious need for us all to prioritize the health and well-being of our employees, clients and business partners, it can be difficult to focus on the next steps businesses need to take to protect themselves. Cooley recently published two blog posts on the […]

Coronavirus and Insurance Coverage

With the coronavirus, COVID-19, already taking its toll on the economy, are there any existing sources of insurance coverage to help cover the inevitable financial loss? With major sporting events, conferences, cruises and other excursions being cancelled as a result of the outbreak, including the cancellation of the 2020 Olympics […]