Category: US

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 […]

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 […]

California Supreme Court Opens Door to Excess Coverage, Rejecting Requirement of Horizontal Exhaustion

In a landmark decision with significant implications for policyholders and insurers dealing with high exposure, continuous injury claims, the California Supreme Court held in Montrose Chemical Corp. of California v. Superior Court, Case No. S244737, that policyholders may access otherwise available coverage under any excess policy once it has exhausted […]

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 […]

Representation & Warranty (R&W) Insurance – Current Market Trends

Over the last decade the use of R&W insurance in merger and acquisition transactions has grown exponentially. From 2008 to 2018, the total R&W policies bound per year in North America rose from 40 deals, providing $541 million of coverage to 1500+ R&W insurance transactions, providing aggregate coverage of $38.6 […]

D&O Coverage for Cyber and Privacy Related Exposure

It goes without saying that cybersecurity is a top D&O liability concern for organizations today. According to Willis Towers Watson’s 2018 Management Liability (Directors and Officers) U.S. Survey, respondents cited cyber risks as the most concerning D&O risk for 2019. This is not at all surprising given the many recent […]

NAIC Set to Revise Anti-Rebating Laws

As part of our insurtech practice, we are frequently asked to advise on state insurance anti-rebating laws. These laws prohibit insurance companies or brokers from providing policyholders with anything of value (above certain de minimis thresholds) that is not specifically included in the terms of the policy, as an inducement […]