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business interruption

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What business interruption coverage appeal to U.K. Supreme Court could look like

October 6, 2020 by Greg Meckbach

British insurers are not taking yes for an answer from the High Court of England and Wales, which recently ruled that insuring business interruption “following” a notifiable disease, within a certain distance of the client, does in fact mean that

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Does COVID lockdown constitute ‘prevention or hindrance of access’ under BI?

September 25, 2020 by Greg Meckbach

Clients who lost business income during the pandemic might not get coverage even if they have coverage for “prevention or hindrance of access,” but this depends on exactly how the policies are worded. The High Court of England and Wales

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How Canadian courts could be influenced by U.K. business interruption test case

September 23, 2020 by Greg Meckbach

A recent British court ruling could be good news for Canadian clients who bought insurance covering business interruption from an occurrence of a notifiable disease within a specified distance of their premises, and who had to close due to the

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FM Global appeals $25-million BI award arising from reactor shutdown

September 17, 2020 by Greg Meckbach

Factory Mutual is appealing an Ontario court ruling that included a finding that “resulting physical damage” can mean loss of use. David Liblong, a partner with Liblong Digambar Professional Corporation, told Canadian Underwriter Wednesday that the insurer is appealing MDS

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Will the U.K. decision in a test BI case matter to Canada? Intact and ratings agencies weigh in.

September 17, 2020 by Greg Meckbach

The verdict in the British Financial Conduct Authority’s business interruption test case could have an impact outside of Britain, one credit rating agency warns, but Canada’s largest carrier appears to be largely unaffected. The vast majority of Intact Financial Corp.’s

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Mixed result in British court ruling in business interruption coverage dispute

September 15, 2020 by Greg Meckbach

If a client has business interruption coverage “following” a notifiable disease within a certain distance, while another has coverage for BI “in consequence” of the same disease, one of those clients could be covered for its COVID-19 closure while the

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How clients may argue BI covers pandemic if no physical damage occurs

September 4, 2020 by Greg Meckbach

Some clients seeking business interruption coverage arising from the COVID-19 pandemic are looking to the courts for a “generous” interpretation of policy wording, a Canadian lawyer says. “In the context of property damage claims related to the novel coronavirus, many

News BrokersMGAs

MGAs finding it harder to place this kind of commercial coverage

September 1, 2020 by Greg Meckbach

If you are finding it difficult to place business interruption insurance for restaurants, hotels and event venues, you aren’t alone. Aurora Underwriting Services Inc., an Alberta-based managing general agent and Lloyd’s coverholder, is still placing insurance for restaurants, company owner

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Why UK insurers say coverage for disease within 25 miles does not apply to COVID business interruption

August 25, 2020 by Greg Meckbach

If a client has business interruption coverage for occurrence of a disease within 25 miles of the property that causes a local government authority to place restrictions on the use of premises, this would not cover widespread lockdowns in case

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Why insurance regulator says this ‘notifiable contagious disease’ clause covers BI in pandemic

August 21, 2020 by Greg Meckbach

Whether business interruption coverage for a notifiable human infectious or contagious disease within a certain distance from the client’s premises actually insures closure due to COVID-19 was a hotly contested issue in a British trial that recently wrapped up. The

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Is the pandemic hiding your commercial client’s under-insurance issues?

August 19, 2020 by Adam Malik

There may be fewer instances of under-insurance related to business interruption during the COVID-19 pandemic era, but brokers can’t let the issue of purchasing the right amount of cover to fall off the radar when advising their commercial clients. In

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Insurer ordered to pay $21 million in interest on a $25-million court award

August 14, 2020 by David Gambrill

An Ontario court has ordered FM Global to pay compound pre-judgment interest of US$14.8 million (about CAD$21 million) on a $25-million court award. The business interruption claim arose out of a 2009 leak at the Chalk River, Ont., nuclear reactor. Based