Tag Archives: Insurance Recovery

New York’s exception allowing attorney’s fees for policyholders

By Esther Kim and John Berringer on Posted in Commercial General Liability, Insurance Coverage, Insurance General
An often-overlooked 2020 New York federal court decision allows policyholders to potentially recover attorneys’ fees when they bring a declaratory judgment action against an insurance company that has made litigation inevitable by resisting its duty to defend. In Houston Casualty Company v. Prosight Specialty Insurance Company, 462 F. Supp. 3d 443, 444 (S.D.N.Y. 2020), the … Continue Reading

Music to my ears: Coverage considerations for musical instrument insurance (Part II of II)

By John Vishneski and Adrienne N. Kitchen on Posted in Insurance Coverage
Part II: exclusions, considerations, filing a claim, and tips This is the second part of a two-part blog series titled, “Music to my ears: Insurance coverage for musical instruments”. Part I covers policy options. Professional and amateur musicians alike can purchase insurance to cover their instruments. Musical instrument policies are subject to exclusions and requirements, … Continue Reading

Music to my ears: Coverage considerations for musical instrument insurance (Part I of II)

By Adrienne N. Kitchen and John Vishneski on Posted in Insurance Coverage
Part I: Policy options This is the first part of a two-part blog series titled, “Music to my ears: Insurance coverage for musical instruments”. Part II covers exclusions, considerations, filing a claim, and tips. Musical instruments can cost significant sums running from a few hundred or thousand dollars to a million dollars or more. And … Continue Reading

FCA v. Arch and others – The UK Supreme Court’s final word on business interruption insurance losses in light of the COVID-19 pandemic

By Peter Hardy, Margaret Campbell, Mark Pring, Laura-May Scott, Catherine Lewis, Emily McMahan, Charlotte Stewart-Jones and Thomas Morgan on Posted in Insurance Coverage, Property Damage & Business Interruption
The United Kingdom Supreme Court (UKSC) handed down its judgment on 15 January 2021 in The Financial Conduct Authority v. Arch Insurance (UK) Limited and Others. This test case was brought by the FCA on behalf of SME business interruption (BI) policyholders who have suffered financial losses as a result of COVID-19. The High Court … Continue Reading

D&O insurance basics (Part 2)

By Andy Moss and Carolyn Rosenberg on Posted in Commercial General Liability, D&O, E&O, Professional Liability, Insurance Coverage, Insurance General
Directors’ and officers’ liability (D&O) insurance protects the personal assets of corporate directors and officers in the event of a lawsuit or other “claim” made against them for, among other things, an alleged breach of their duties in managing the organization.  D&O insurance directly covers individual directors and officers for their defense costs, judgments against … Continue Reading

D&O insurance basics (Part 1)

By Carolyn Rosenberg and Andy Moss on Posted in D&O, E&O, Professional Liability, Insurance Coverage, Insurance General, Uncategorized
This is the first of two posts discussing several major aspects of directors’ and officers’ liability (“D&O”) insurance coverage.  Companies approaching a policy renewal deadline, looking to place D&O insurance for the first time, considering increasing the size or structure of an existing D&O insurance program, or otherwise evaluating their overall risk management strategy may … Continue Reading

COVID-19 event cancellation insurance – good news and bad news

By Mark Pring, Elizabeth F. Vieyra and Anthony B. Crawford on Posted in Commercial General Liability, Insurance Coverage, Insurance General
A concert promoter cancels a sold-out show of a world-renowned recording artist, reimbursing millions of dollars in ticket sales as a result.  If the reason for the cancellation was COVID-19, does insurance cover that? Event Cancellation Insurance Basics Event cancellation insurance generally provides coverage only when there has been a triggering event under the policy.  … Continue Reading

Join us for an on-demand webinar “What policyholders really need to know about insurance for COVID-19”

By Elizabeth F. Vieyra on Posted in Commercial General Liability, D&O, E&O, Professional Liability, Insurance Coverage, Insurance General, Property Damage & Business Interruption, Uncategorized
Reed Smith Insurance Recovery partners John Shugrue, John Ellison, Amber Finch, Richard Lewis, and Matthew Weaver offer discussion and analysis on key issues relevant to businesses seeking, or evaluating whether to seek, coverage for COVID-19 losses. This webinar is available on demand and you can register here. Here’s a brief summary of the topics addressed in … Continue Reading

Insurance Recovery Tips for Companies Suffering Damage after Recent Disasters: 2017 Hurricanes (Harvey, Irma, Maria, Nate), Earthquake (Mexico City), and Wine Country Wildfires (California)

By John Shugrue, James M. Davis and Kevin Dreher on Posted in Insurance Coverage, Property Damage & Business Interruption
Companies are facing operational and logistical challenges in recovering from the widespread destruction caused by these natural disasters. They will be looking to property damage and business interruption insurance to get them back on track. The time and cost to return to normal operations could be unusually long given the widespread destruction and the lack … Continue Reading

Disaster Relief Resources For Individuals After Hurricanes Harvey And Irma

By James M. Davis and Emily Garrison on Posted in Insurance Coverage, Property Damage & Business Interruption
Hurricanes Harvey and Irma have brought widespread destruction and extraordinary damage to property that will require a long recovery. Individuals will need substantial relief to replace and repair homes and personal property. This blog provides guidance about insurance and governmental resources available to assist individuals after these Hurricanes and discusses common issues and questions arising … Continue Reading

A free pass for NICO and Resolute?

By Mike Sampson, Ann Kramer, Jennifer Katz and Natalie Metropulos on Posted in Insurance Coverage
A number of insurance companies have recently entered into reinsurance agreements with National Indemnity Company ("NICO"), a subsidiary of Berkshire Hathaway Inc. When this occurs - and the arrangements do not require the consent of policyholders - the policyholders unexpectedly find themselves involved with NICO and/or its "affiliated claims adjuster," Resolute Management, Inc. ("Resolute"). But, what happens when a policyholder disagrees with NICO's and/or Resolute's approach to adjusting, defending, or resolving claims?… Continue Reading

General Liability Insurance and Disease-Related Claims

By Mike Sampson and Caitlin Garber on Posted in Commercial General Liability, Insurance Coverage
The Ebola crisis has raised numerous issues worldwide. Many of the concerns sparked by the crisis - particularly in the insurance coverage context - are not unique to that disease, however. For example, coverage concerns relating to Ebola-related claims would be similar to those for many other disease-related claims. Many different types of insurance policies, including general liability policies, could be implicated by such claims.… Continue Reading

Excess Insurance Implications of a Below Limits Settlement

By Courtney Horrigan and Caitlin Garber on Posted in Insurance Coverage
While policyholders frequently negotiate the terms and conditions of primary insurance, it is somewhat less common for policyholders to give the same attention to the language in their excess coverage. Excess policies which state that coverage attaches only after the underlying insurer pays out its full-limits of liability can frustrate policyholders attempting to resolve a coverage dispute with an underlying insurer. Policy wording is critical - as demonstrated in a recent Texas appellate court.… Continue Reading

All Businesses Should Review Insurance Coverage in Face of Ebola Crisis

By Mike Sampson, Courtney Horrigan and Caitlin Garber on Posted in Insurance Coverage
Every day, there is a new story about Ebola in the media. While some commentators suggest that the threat of Ebola in the United States is overblown - and we hope they are right - now is still the time for all businesses to review their insurance policies to understand what insurance coverage, if any, they may have available should an Ebola-related liability and/or loss occur.… Continue Reading
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