Insurers Face Double Whammy From Coronavirus Crisis
Having initially brushed off the potential impact from coronavirus-linked claims, global insurers are waking up to the prospect of a double whammy - a sharp rise in payouts at a time of big investment losses.
March 13, 2020
Catastrophe
Liability
Life & Health
Coronavirus Delays Court Proceedings Around the World
The wheels of justice are slowing down around the world as court systems based on open, public hearings deal with an outbreak that dictates the opposite.
March 13, 2020
Legislation & Regulation
Liability
Litigation
Travel Insurance Probably Won’t Save You From Coronavirus Cancellations
The novel coronavirus outbreak has crippled the travel industry worldwide. Cruises are canceled, major airports are empty and hotel bookings are bottoming out. But is all of the disruption and money lost by travelers covered by trip insurance? Probably not, experts say, even in the wake of a worldwide pandemic.
March 13, 2020
Excess & Surplus Lines
Liability
Does Music Touring Insurance Cover Coronavirus? It’s Complicated
The live music industry and the insurance industry are battling over who's responsible for canceled shows' multimillion-dollar losses. A contract obtained by Rolling Stone shows coronavirus specifically excluded in coverage.
March 13, 2020
Liability
Don’t Burst The Bubble: Underwriting Family Fun Centers
A family fun center is like a bubble of joy. You cross the threshold with your family and friends, and you’re transported into entertainment heaven.
March 12, 2020
Excess & Surplus Lines
Liability
Why This Ski Resort’s Waiver Argument Doesn’t Cut It With Appeal Court
A British Columbia judge should not have used a North Vancouver ski resort’s warning notices to throw a personal injury lawsuit out of court, the province’s appeal court found in a ruling released March 4.
March 11, 2020
Liability
Litigation
Risk Managers Advised To Prepare For Coronavirus D&O Claims
Businesses should brace themselves for a likely flood of shareholder suits related to the new coronavirus outbreak, but the success of any litigation may depend on companies’ willingness to fully disclose directors and officers liability-related risks now, say many experts.
March 10, 2020
Liability
Litigation
Risk Management
Coronavirus: Factors for the Insurance Industry to Consider − Liability and Workers’ Compensation Insurance
Given the risk to life and the economic impact of coronavirus, policyholders and the insurance industry alike are watching and considering whether business interruption, event cancellation, or liability and workers’ compensation insurance benefits may be available while similarly assessing liability risks.
March 6, 2020
Liability
Workers' Compensation
Act Of God Versus Emerging Risk: Texas Trial Highlights Climate Liability For Factories
Opening arguments ended Monday in Texas in the highest profile criminal case ever brought against a company and its employees for allegedly failing to adequately prepare for the effects of climate change. The company, Arkema, owns a chemical plant outside Houston that flooded when Hurricane Harvey dumped more than 5 feet of rain on the area in 2017.
March 4, 2020
Excess & Surplus Lines
Liability
Litigation
Texas
Pileups Involving At Least 100 Vehicles Shut Down Wyoming Interstate
At least three people died in a wreck involving 80-100 vehicles Sunday on Interstate 80, while a second crash on I-80 involving at least 30-40 vehicles occurred around the same time, just four miles away.
March 2, 2020
Auto
Excess & Surplus Lines
Liability
Subrogation
Wyoming
Massive Fire Tears Through Luxury Apartment Complex Under Construction In Savannah, Georgia
More than three hours after a massive fire engulfed a large construction site in downtown Savannah, Georgia, crews were still battling the blaze.
February 27, 2020
Excess & Surplus Lines
Liability
Property
Subrogation
Georgia
Jeep Driver Survives Six-Story Plunge From California Parking Garage
A man drove his Jeep off the top of a six-level parking garage and landed across the street on a McDonald’s in Santa Monica, California, authorities said Sunday. The 20-year-old driver from Twentynine Palms, California, "while injured, was conscious, suffering and speaking with officers when they arrived" shortly after midnight, according to a press release from the Santa Monica Police Department.
February 24, 2020
Auto
Liability
California
Personal Injury Lawsuits Filed By Victims Of 2019 Grand Forks Balcony Collapse
When a balcony at a Grand Forks apartment building collapsed in June, it sent five people plummeting four stories to the sidewalk below. Now, four of those people have filed a personal injury lawsuit against the building’s owners as well as multiple contractor and architectural companies.
February 24, 2020
Excess & Surplus Lines
Liability
Litigation
North Dakota
Two Dead, Many Injured In Huge Montreal Pileup Under Whiteout Conditions
Two people are confirmed dead in a crash that involved about 200 vehicles on Highway 15 in La Prairie south of Montreal, provincial police say. The confirmation came from the Surete du Quebec, which said the victims are two people who were trapped in the wreckage near a diesel spill.
February 21, 2020
Auto
Liability
Should Facebook, Google Be Liable For User Posts?
U.S. Attorney General William Barr on Wednesday questioned whether Facebook, Google and other major online platforms still need the immunity from legal liability that has prevented them from being sued over material their users post.
February 20, 2020
Legislation & Regulation
Liability
