Emerging risks
In the current geopolitical environment, the conflict involving Iran presents risks that reverberate far beyond the immediate conflict between countries.
At the epicenter of those risks is the Strait of Hormuz, through which roughly one-fifth of the world’s seaborne petroleum and a significant share of liquefied natural gas transit each day. Any credible
Reed Smith recently attended the Airmic Annual Conference 2025 in Liverpool as a Marketplace Partner and, in the wake of a series of high-profile cyberattacks on retailers in the first half of 2025, cyber risk emerged as a central theme throughout panel discussions and sessions at the conference. Stakeholders across government, cybersecurity and underwriting all
Addressing a growing challenge
In response to the increasing severity and complexity of wildfire smoke damage across California, the Department of Insurance announced the creation of a new Smoke Claims & Remediation Task Force. This initiative, spearheaded by Insurance Commissioner Ricardo Lara, aims to establish clear, science-based standards for investigating, paying, and remediating smoke damage
Cyber incidents can pose a threat to any business. A recent bankruptcy case, In re Jerico Pictures, Inc., d/b/a National Public Data (“National Public Data”),[1] demonstrates that the growing recognition of the danger posed by cyber risks is also leading to greater expectations on companies to protect themselves from those risks, including
An insurer that breaches a duty to defend its insured for a lawsuit will typically be held liable for the expenses the insured “incurred in defending the suit, including reasonable attorney’s fees and court costs.” Primrose Operating Co. v. Nat’l Am. Ins. Co., 382 F.3d 546, 559-60 (5th Cir. 2004). Depending on which
On March 7, 2025, the California Department of Insurance issued Bulletin 2025-7, which provides crucial guidance on the handling of smoke damage claims for properties affected by the Los Angeles wildfires. This bulletin clarifies the Department’s position on insurance coverage for smoke damage and outlines the expectations for insurers in processing these claims. The bulletin
In its judgment in Sky UK Ltd v Riverstone Managing Agency Ltd [2024] EWCA Civ 1567 the Court of Appeal has provided welcome clarification on several key issues relating to policy interpretation.
Background
Sky engaged Mace as the main contractor for its new headquarters under a Design and Build Contract. Mace was a named insured
Conditions Precedent to Coverage
Insurance policies typically are subject to certain conditions precedent to coverage. As the name suggests, conditions precedent to coverage are obligations placed on the insured that, in the normal case, must be complied with in order for coverage to attach.
Take a commercial general liability (or “CGL”) policy, for example. An
Introduction
Judge Corley’s (N.D. Cal.) January 10, 2025 decision in Bottega, LLC v. National Surety Corporation provides guidance for commercial policyholders who have closed down their businesses due to wildfires, smoke, ash and soot that is especially timely given the ongoing wildfires in Southern California. The decision highlights the complexities of business interruption insurance claims, distinguishes
Reed Smith represented Tyson International Company Limited in obtaining a permanent anti-suit injunction against London market reinsurer, GIC Re, and successfully resisting the reinsurer’s application for a stay under section 9 of the Arbitration Act 1996. The judgment was handed down on 21 January 2025, and you can read it in full here: Tyson International