Whether from a hurricane, a broken dam, or a rising river, floods are one of the most common and most costly causes of loss. Because flood insurance is so difficult to obtain, floods are also one of the most feared causes of loss.
Zurich Financial Services Group and the Business Continuity Institute conducted a survey among 559 organizations in more than 62 countries, covering 14 different industries, to look at the impact of this year’s natural and manmade occurrences that have caused supply chain disruptions worldwide. Overall, 85% of the companies reported at least one supply chain disruption. Twenty percent of the occurrences were attributed to the earthquakes or tsunamis in Japan and New Zealand; fifty-one percent were attributed to adverse weather; and forty-one percent were attributed to IT or telecommunications outages.
We are happy to share with the insurance world a very positive development on COVID-19 Business Interruption cases – from Orange County, a conservative jurisdiction. The credit for this victory goes to our friends at Covington & Burling LLP, who we have been working closely with to advance justice for policyholders. A special shout-out is owed to Rani Gupta, Joan Li, David Goodwin, and Jad Khazem for this win, as the specific allegations of physical alteration were the driving force behind the victory and are instructive for future success. Continue Reading Court Rules in Favor of Goodwill on COVID-19 Business Interruption Matter
Insurance has been woven into the tapestry of human society dating back to ancient times. At its core, an insurance policy is a contract of indemnity between an insurance company and an insured. The policy is subject to the same rules that govern other contracts unless those rules are specifically modified by statute.1 Continue Reading Interpreting Insurance Contracts in Florida
The Certified Question: On July 2, 2020, a Ninth Circuit court of Appeals panel certified the following three-part question to the Nevada Supreme Court:
- Whether, under Nevada law, the burden of proving the applicability of an exception to an exclusion of coverage in an insurance policy falls on the insurer or the insured?
- Whichever party bears such a burden, may it rely on evidence extrinsic to the complaint to carry its burden, and if so,  is it limited to extrinsic evidence available at the time the insured tendered the defense of the lawsuit to the insurer?
The case out of which this certified question arises is Zurich American Insurance Co. v. Ironshore Specialty Insurance Company.1 Continue Reading Who Has the Burden to Prove an Exception to an Exclusion of Coverage in an Insurance Policy?
Confucius once said, “life is simple, but we insist on making it complicated.” The same goes for insurance policies.
Insurance policies are hard to read, and it should not be hard for customers to understand what they purchase. Continue Reading Insurance Policies Should Be Easy To Read
Indiana House of Representative member and National Council of Insurance Legislators (NCOIL) Matt Lehman announced today in a webinar hosted by Rutgers University that NCOIL would oppose any retroactive legislation changing the business income and civil authority portions of the commercial property insurance policies. Lehman is an insurance agent:
Matt has been with Bixler Insurance, Inc since 1991 and became a partner in 1995. He specializes in commercial insurance ranging from main street merchants, to large manufacturing. He also works closely with small and large agribusiness exposures, as well as all aspects of personal lines insurance. He received his Certified Insurance Counselor certification in 1995. Matt also currently serves in the Indiana House of Representatives and currently chairs the House Insurance Committee…. Continue Reading Coronavirus Insurance Coverage Update April 24-–NCOIL Against Retroactive Insurance Legislation and Small Business Policyholders Are Stupid, Stupid, Stupid
Larry Bathgate was my co-counsel on 23 municipal insurance claims Following Superstorm Sandy and countless commercial and residential claims as well. We spoke on Friday evening and Saturday morning about our former clients, the rebuilding of the Jersey Shore and our law practices. From my view, there has been an amazing transformation and it was gratifying to see the American patriotism in Bay Head, New Jersey, with hundreds of American flags everywhere.
I often receive calls from policyholders asking how an insurance company can deny their claim based on an exclusion that isn’t defined in the policy. One of these terms is “surface water,” a common exclusion found in most policies. Recently, I had a client whose home’s gutter system malfunctioned during a rainstorm. Rather than channeling water to run from his roof, through the gutter system and out to the street, water was redirected at the side of the home. The water filled up a planter built in to the side of the house and eventually made its way into the home, damaging his flooring. Continue Reading When Can My Property Insurance Claim Be Denied Due to War or Other Undefined Terms?
Recently, my fiancé and I watched the Season 3 premier of Divorce on HBO. It’s sort of a guilty pleasure. I admit, at first, I was hesitant when my fiancé recommended I watch. But, one episode in and I was hooked. It’s funny, witty, snarky, and overall relatable for many people. If you haven’t watched this show yet, I recommend it. Albeit, HBO has now announced this is the final season of the show so try and not get too attached. Continue Reading Life Mimics Art or Is It the Other Way Around? Insurable Interest and Risk of Loss Are Always Part of Insurance Coverage