COVID-19

Allianz settles £16.4mn Various Eateries BI dispute following London appeal

Allianz and Various Eateries have settled a long-running £16.4mn ($21.3mn) suit brought by the restaurant operator over the payment of claims related to business interruption losses suffered because of Covid-19 lockdowns.

UK theatre group fights to restart Allianz pandemic BI claim

A West End theatre owner has urged a UK appellate court to restart its long-running Covid-19 business interruption claim against Allianz, arguing that an earlier Commercial Court judgment was wrong to rule that its policy had not been triggered by the pandemic lockdowns.

Covéa victorious in ~£70mn pandemic BI reinsurance dispute

The UK arm of French insurer Covéa has won its long-running dispute with Italian reinsurer Unipol over Covid-19 business interruption reinsurance recoveries, with a London appellate court upholding findings that the pandemic met the definition of "catastrophe" used in the policy.

Australia’s Federal Court rules against Covid BI claims proceeding as class actions

Australia’s Federal Court has ruled against hearing a fresh wave of Covid-19-related business interruption claims as class actions, a move welcomed by insurers and which leaves SME policyholders to pursue the cases individually.

Reinsurers scrutinise latest UK pro-policyholder ruling ahead of Covid BI arbitrations

More than four years after the Covid-19 pandemic began, a UK appeals court has held in favour of a policyholder in a case likely to have wider implications for other insureds and for some of the outstanding reinsurance business interruption disputes that are set for arbitration.

London’s ExCeL defeats insurers in landmark Covid-19 BI test case appeal

An English appeals court has handed London's ExCeL centre and other policyholders victory in a long-running Covid-19 test case, finding that the national pandemic lockdowns triggered the "at the premises” clauses in their policies.

Insurers seek to overturn ExCeL pandemic BI test case ruling

UK insurers have returned to court in a bid to overturn a landmark Commercial Court judgment which found in favour of London’s ExCeL centre and other policyholders with “at the premises” business interruption cover.

Aviva settles football club BI disputes ahead of London trial

Aviva has settled a long-running legal dispute with a number of Premier League football clubs – including West Ham United and Aston Villa – over the payment of claims related to business interruption losses suffered as a result of the pandemic lockdowns, The Insurer can reveal.

RSA and CNA settle ~£16mn ExCeL BI dispute

Insurers RSA and CNA have settled a long-running legal dispute with the owner of London's ExCeL conference centre over pandemic-related losses, in anticipation of a closely-watched appeal trial later this year.

MS Amlin “re-engaging with reinsurers” over Covid-19 settlements

MS Amlin has revealed it is now “re-engaging” with the reinsurers of Syndicate 2001 over Covid-19 BI recoveries following the settlement of the long-running dispute with Britain’s biggest pub group Stonegate.

Insurers settle Tottenham Hotspur BI dispute ahead of London trial

A coalition of UK insurers has settled a long-running legal dispute with Premier League football club Tottenham Hotspur over the payment of claims related to business interruption losses suffered as a result of the pandemic lockdowns, The Insurer can reveal.

No limits to creative interpretation? Thoughts on Various Eateries and Gatwick Investment

Mark Pring, partner at Reed Smith, takes a deep dive into two of the most recent UK rulings in the Covid-19 BI litigation saga and questions whether the cases could trigger a wave of disputes from insurers looking to apply the decisions unwarrantedly…

FBD profits surge 24% on pandemic BI reserve releases

Irish insurer FBD Holdings saw its full-year profit leap by 24 percent in 2023, driven by continued growth in its domestic insurance operations and favourable reserve development of more than €44mn ($48.1mn).

Reinsurers fight back against WR Berkley’s $90mn Covid-19 ri dispute

A host of London market reinsurers – including units of Axa XL, Brit, Liberty and Chaucer – have hit back at a $90mn lawsuit brought by WR Berkley's Lloyd's arm, arguing that the carrier’s Covid-19 reinsurance recoveries total no more than the $26.6mn which has already been paid.

Covéa and Markel victorious in overturning pro-reinsurer arb decision in UK Covid-19 BI disputes

A UK Commercial Court judgment has found in favour of Covéa and Markel in a non-damage Covid-19 business interruption ruling which could have major ramifications for outstanding Covid-19 reinsurance recoveries.

Policyholders snatch partial victory in Liberty BI test case

Policyholders have claimed partial victory in an important business interruption test case which found insurer Liberty Mutual was liable to pay a number of hospitality and retail businesses for losses triggered by the UK’s pandemic lockdowns.

NJ supreme court affirms insurers’ Covid BI win against Atlantic City casino

The Supreme Court of New Jersey has affirmed a lower court’s ruling that units of AIG, Zurich and Allianz do not have to pay for the Covid-19 business interruption losses of Ocean Casino Resort because the Atlantic City casino and resort had not shown direct physical loss or damage.

UK court rejects Allianz and Various Eateries appeals in £16.5mn BI suit

The UK’s Court of Appeal has rejected rival bids from Allianz and restaurant operator Various Eateries in a much-anticipated Covid-19 business interruption case, providing an outcome which commentators have described as favourable to insurers.

UK BI claims continue with Canopius targeted in latest group action

London continues to be a hotbed for pandemic-related business interruption litigation with Lloyd’s insurer Canopius the latest to be targeted in an action brought by a group of more than 60 small business owners.

WR Berkley seeks $90mn from reinsurers in landmark Covid-19 ri dispute

WR Berkley's Lloyd's arm is suing its reinsurers – including units of Axa XL, Brit, Liberty, Chaucer and Everest – seeking over $90mn in reinsurance recoveries it says it is owed to cover business interruption, event cancellations and related risks incurred during the Covid-19 pandemic.

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