Business interruption

Chubb sued by production company after Covid-19 delays Ben Affleck movie

A movie production company has sued Chubb for refusing to extend its policy after filming of a big-budget action thriller starring Ben Affleck was delayed by Covid-19, accusing the insurer of “a broad scheme to save itself tens of millions of dollars”.

Rep. Maloney holds stakeholder discussion to build Pria momentum

US Congresswoman Carolyn Maloney has emphasised the need for her Pandemic Risk Insurance Act (Pria) by hosting a discussion with stakeholders, including input from organisations that have proposed other solutions.

Judgment Day: What to expect from the FCA Test Case decision next week…

The hotly anticipated judgment in the Financial Conduct Authority’s (FCA) test case on business interruption and Covid-19 claims will be handed down next week in a ruling set to have far-reaching consequnces for both carriers and policyholders. With so much at stake and to make sense of the issues at hand, we speak to Bryan Cave Leighton Paisner LLP’s Jonathan Sacher and Richard Jennings about what the industry can expect on judgment day…

AIG, FM Global and Lloyd’s among insurers in high-stakes casinos lawsuits

A notable subset of US Covid-19 business interruption (BI) litigation has been filed by casinos, with AIG and FM Global facing lawsuits seeking triple-figure payouts and insurers on an Alliant program facing multiple suits from Native American tribes.

Flight path to recovery

In light of the increase in the value of grounded aircraft exposures, Russell Group’s Suki Basi explains why realising these figures is beneficial for (re)insurers.

Michigan judge hands State Farm another win in Covid-19 BI case

A district court judge in Michigan has granted State Farm’s motion to dismiss a case brought by a chiropractor seeking business interruption (BI) losses related to Covid-19, marking insurers’ second favourable ruling of the week following a similar ruling for Nationwide.

Covid-19 BI lawsuit against Nationwide dismissed in latest win for insurers

Another motion to dismiss has been granted in favour of an insurer in business interruption (BI) litigation over Covid-19 losses, with a federal judge in Florida throwing out a case brought by a dentist against a Nationwide subsidiary.

Circus Circus hits back at AIG’s “house of cards” in BI dispute

A Las Vegas casino that is suing AIG for Covid-19 business interruption losses over a policy that provides over $500mn of coverage has hit back at the insurer’s attempt to have the case dismissed, arguing that an environmental pollution does not apply under Nevada law.

California district judge throws out Covid-19 BI case against Travelers

In the latest favourable ruling for an insurer in Covid-19 business interruption (BI) litigation, a Central District of California judge has granted Travelers’ motion to dismiss a case brought by a Los Angeles restaurant, noting that “under California law, losses from inability to use property do not amount to ‘direct physical loss of or damage to property’”.

Owner of over 40 gaming operations sues on $725mn policy

Penn National Gaming (PNG) has sued 29 of its insurers for Covid-19 business interruption (BI) losses, noting the defendants did not add in specific virus exclusions to its $725mn policy unlike some of its other insurers.

Florida magistrate judge says Covid-19 doesn’t cause direct physical loss

A magistrate judge in Florida has recommended the dismissal of a restaurant’s Covid-19 business interruption (BI) lawsuit against an Axa XL subsidiary, saying that there has been no direct physical loss to the property.

Strip clubs sue Lloyd’s over Covid coverage dispute

A group of 23 US strip clubs is suing multiple Lloyd’s syndicates for refusing to payout on business interruption losses stemming from government-mandated Covid-19 lockdown measures.

Ecclesiastical sets aside £14mn to pay pandemic claims

UK insurer Ecclesiastical has set aside £14mn ($18.3mn) to pay out on insurance claims linked to the Covid-19 pandemic where there is confirmed cover, the insurer disclosed in its half-year results.

US MDL panel considers single-district proceeding for Travelers

The US Judicial Panel on Multidistrict Litigation (JPMDL) has asked for briefing on whether Covid-19 business interruption (BI) actions against Travelers should be centralised, bringing the number of insurers potentially facing such a proceeding to five.

Seattle orchestra wants The Hartford to face the music over BI claims

The Hartford has been sued by The Seattle Symphony Orchestra over Covid-19 business interruption (BI) losses, with the lawsuit claiming the existence of any virus exclusion was specifically deleted by endorsement.

Texas judge dismisses broker from Covid-19 lawsuit

A federal judge in Texas has dismissed a broker from a business interruption (BI) suit brought by a Dallas restaurant that is seeking payments for losses stemming from Covid-19 under a Cincinnati Insurance policy.

Steakhouse chain fires up BI lawsuit against Zurich over $146mn policy

Firebirds International, which owns over 50 steakhouse restaurants across the US, has sued Zurich for business interruption losses resulting from Covid-19, claiming that a contamination clause does not apply because the insurer could have included a specific virus exclusion.

Texas judge denies Gartner bid to move Tokio Marine Covid-19 suit to New York

A Texas federal judge has rejected Gartner’s bid to transfer a suit filed by Tokio Marine unit US Specialty Insurance Co (USSIC) to New York.

Texas judge dismisses BI case, saying “no direct physical loss”

A Texas district court judge has cut short a lawsuit filed by barbershops against State Farm seeking business interruption (BI) payouts from Covid-19, in a win for the industry that follows a setback earlier this week.

US insurers’ BI winning streak ends but the good news outweighs the bad

On Wednesday a multidistrict litigation panel and a Missouri judge brought good and bad news for US insurers facing Covid-19-related business interruption (BI) lawsuits, while the very next day a Texas district court judge returned the industry to winning ways when he granted a State Farm motion to dismiss.

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