A recent Wall Street Journal article, “These Insurers Might Resist Virus” from March 20, 2020, provides some positive news about the financial health of the Property and Casualty marketplace in the context of coronavirus exposures.  It noted that S&P 500 P&C insurer stocks generally have outperformed in the recent stock market decline (YTD 29% vs. 51% decline for life... Read More

A bill has been introduced in the New Jersey legislature to eliminate – on a retroactive basis – the application of virus or pandemic exclusions to coronavirus / COVID-19 claims.  The global virus transmission or pandemic exclusion was generally added to business interruption policies starting in 2006 and later approved by state regulators in New Jersey and other states... Read More

Well-known New Orleans restaurant, the Oceana Grill, was the first to file a business interruption insurance lawsuit against its insurer, Certain Underwriters at Lloyd’s, London (“Lloyd’s”), last week in Louisiana state court.  While the complaint is lacking in some policy specifics, the issues raised suggest this may be a test case of sort for coronavirus business interruption issues generally. Oceana... Read More

Nursing home outbreaks highlight the coronavirus risks in the long-term care healthcare sector.  The novel coronavirus and COVID-19 will likely implicate long-term care facilities’ insurance coverage profile in ways that are unprecedented both for the policyholders and their insurers.  Long-term care facilities include nursing homes and skilled nursing facilities, assisted living facilities, and continuing care retirement communities.  The insurance... Read More

Business Interruption / Event / CGL / D&O / E&O / Workers’ Compensation Business Interruption and Event coverage is frequently provided as part of a policyholder’s commercial property insurance and provides coverage for financial loss suffered due to “direct physical loss or damage” to an insured property.  Contingent Business Interruption coverage insures the policyholder for financial losses resulting from a... Read More