business interruption


Precedents seen for some Covid-19 business interruption claims

Plaintiff attorneys believe there are a number of legal precedents that could mean insurers end up taking more business interruption claims from the Covid-19 coronavirus pandemic than initially thought, which analysts say suggests a rising risk of the impact being greater than anticipated.As we explained last week, legal actions seeking read the full article →

Legal action to force coronavirus business interruption claims expands

Legal actions and efforts to enable businesses and also insurers to force through claims related to business interruption appear to be expanding, with potentially significant ramifications for some in the reinsurance and insurance-linked securities (ILS) market should any succeed.It largely comes down to contract wording interpretation and the understandable desperation read the full article →

Parametric triggers can expand the limits of insurability: Swiss Re

Parametric triggers, coupled with increasingly granular data and technology, can "expand the limits of insurability" according to Swiss Re, especially when it comes to non-physical damage business interruption (NDBI).Innovation continues to deliver on new ways to mitigate risks, Swiss Re said in a recent report.These innovations are enabling better management read the full article →

Extreme weather events second on 2015 global risk list: World Economic Forum

Extreme weather events are regarded as the second most prevalent threat to global stability in terms of likelihood, following interstate conflict with regional consequences, according to analysis by the World Economic Forum.The organization’s latest annual ‘Global Risks’ report for 2015 has recently been published, utilising responses from over 900 experts read the full article →

Scope for re/insurance, cat bonds & ILS to tackle key business risks

As 2015 gets underway organisations continue to view business interruption (BI) and supply chain risk as the main threat to operations, with the impact of natural catastrophes and fire/explosion risks following, according to a recent Allianz report.Germany-based international insurance and reinsurance provider Allianz, recently published its fourth annual Allianz Risk read the full article →

The hurricane Sandy business interruption conundrum

The issue of business interruption and contingent business interruption insurance losses is becoming a major conundrum when it comes to estimating the total insured loss caused by hurricane and post-tropical storm Sandy. Business interruption claims can take weeks to develop, longer to be reported and quantifying the actual exposure is read the full article →

AIR expands risk modeling suite to include supply chain risk quantification

AIR Worldwide has announced that they have expanded their suite of Catastrophe Risk Engineering (CRE) solutions to add the ability to better quantify, mitigate, and manage the risk associated with the impact of catastrophes on supply chain networks. Supply chain business interruption is a huge insurance risk which was highlighted read the full article →

Reinsurers need to work with risk managers on catastrophe risks

The president of the Federation of European Risk Management Associations (FERMA), Peter den Dekker, has called on reinsurers to work with their ultimate customers, corporate insurance buyers, to develop solutions for natural catastrophe risks. Speaking at the opening of the 2011 FERMA Risk Management Forum, den Dekker implied that the read the full article →

Would weather hedging be more effective than business interruption for Frontier Airlines hail damage?

On a regular basis we see news articles discussing weather events which have caused losses to corporations which may have been better protected through weather risk management techniques rather than their standard business interruption insurance policies. The latest case to hit the news in recent days is the damaging hail read the full article →

Business interruption claims from Chile quake could take a year to settle

The magnitude 8.8 earthquake which struck Chile in February of this year has caused major losses to insurers and certain reinsurers. Insured losses are said to total $8b to $12b with the majority ceded to reinsurers.So certain claims are getting paid quickly but an article in Business News Americas suggests read the full article →