Companies beginning to reopen across the country may face premium rate hikes for third-party liability insurance as insurers weigh the risks of novel coronavirus contagion in industries with higher levels of personal contact. Nearly two months after many non-essential businesses were forced to shutter their doors, provincial governments have begun to give the green light [...]
Another potential exposure for insurance companies comes from business interruption coverage, which is typically included in property policies and indemnifies companies for loss of profits if the business is shut down for reasons specified in the contract. Typical all-risk commercial property policies insure against direct physical loss or damage to covered property resulting from any nonexcluded risk. New Litigations [...]
by COVID-19 LOS ANGELES, Calif. — After receiving numerous complaints from businesses, public officials, and other stakeholders of certain insurance representatives attempting to dissuade business policyholders affected by COVID-19 from filing a notice of claim under its business interruption insurance coverage or refusing to open and investigate these claims upon receipt of a notice of claim, [...]
