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Featured Insights
  • Hurricane Barry: Prepare Now to Maximize Insurance Recoveries
    07/17/2019

    Affected businesses and other organizations should take immediate and proactive steps to maximize insurance recovery.

  • Hurricane Florence: Evaluating Business Interruption Claims Following a Large-Scale Disaster
    10/9/2018

    Storms like the one that recently caused widespread devastation in the Carolinas leave behind challenging questions about business interruption insurance coverage.

  • Hurricane Florence: Insurance Recovery Tips
    10/1/2018

    In the wake of Hurricane Florence, a thorough understanding of the coverage available, the facts surrounding the loss, and the applicable law can often be key to maximizing insurance recovery.

    While Hurricane Florence has left the Carolinas, it will be weeks, months or even longer before businesses will fully recover from the massive destruction left in its wake. Hundreds of roads remain closed, power is not yet fully restored, and some rivers are still rising past major flood stage level. Wide-impact catastrophes like Florence cause not only widespread physical damage but also tremendous and long-lasting economic damages.

  • Hurricane Florence: Maximizing Insurance Recoveries
    9/14/2018

    As Florence threatens the Carolinas and beyond, affected businesses and other organizations should take immediate and proactive steps to maximize insurance recovery.

    Hurricane Florence, threatening to buffet and deluge the southeastern coastline with wind and rain, represents just the latest extreme weather event that businesses must anticipate and from which they must prepare to recover. A key early step in the recovery process for businesses and other organizations is communicating losses to their insurance companies. As you take stock of your losses, plan your response, and examine your insurance policies and recovery options, you are going to face many questions: What insurance covers our losses? Have we identified all the policies that may respond? How do we measure or document our losses, including lost profits? Can we recover for our business interruption before the storm hit or if only our suppliers were impacted? Are there any government funds, such as FEMA assistance, available to aid our recovery?

  • After the Big Chill
    1/5/2018

    Securing and maximizing insurance coverage for losses caused by winter weather early in 2018

  • Wildfires Rage: Insurance Advice for Recovery After the Smoke Clears
    10/19/2017

    Some guiding principles, taken from decades of experience representing insurance policyholders in California and around the globe

    Takeaways:
    • The Wine Country fires, and the uncertainty of their cause, may complicate insurance recovery.
    • As in any insurance claim, your insurance recovery may depend on how you present your claim.
    • Be attuned to the deadlines and your obligations, and engage professionals experienced with your industry and the insurance recovery process.

  • Understanding Business Interruption Insurance and Wide-Impact Catastrophes
    09/14/2017

    In the wake of Hurricanes Harvey and Irma, policyholders can expect insurers to put forward strong objections to some of the most consequential claims asserted by insureds.

    Takeaways

    • In construing policy language on BI claims after wide-impact events, courts typically try to avoid a “windfall” result for either side.
    • Policy language matters and can drive varying results depending on how courts construe policy language.
    • Policyholders ought to pay careful heed to controlling legal precedents regarding BI in wide-impact situations.

  • Hurricanes Harvey and Irma: 8 Key Insurance Coverage Issues Impacting the Availability and Amount of Recovery  
    9/13/2017

    In the aftermath of two powerful hurricanes the process of assessing the damage and rebuilding begins.  Businesses suffered billions of dollars in losses during hurricanes Harvey and Irma, both in physical property damage and disruption of their business (i.e., lost profits).  That is precisely why businesses purchase property and other commercial insurance – to indemnify them when disaster strikes.  However, it is not uncommon for businesses to be unpleasantly surprised when they present a claim that their insurers are unwilling to stand behind the full insurance coverage they promised.  This is particularly so in the case of a substantial loss, and even more so in the aftermath of a wide-area catastrophe – such as a hurricane or other natural disaster – because such catastrophes have negative repercussions on insurers given the number of impacted policyholders.  

  • Internal Revenue Service Provides Helpful Relief to Hurricane Victims
    09/11/2017

    IRS publications permit easier access to retirement funds and encourage leave-based charitable donation programs for those affected.

    Takeaways

    • IRS Announcement 2017-11 provides relief to Hurricane Harvey victims from certain limitations that would normally apply to hardship distributions and loans from tax-qualified employer retirement plans.
    • IRS Notice 2017-48 encourages leave-based charitable donation programs for Hurricane Harvey victims, under which employees may be permitted to convert accrued paid leave into charitable donations. Existing guidance already permits employers to establish major disaster leave-sharing programs.
    • Similar relief is likely to be extended to others impacted during the 2017 Atlantic hurricane season.

  • What a New Texas Insurance Law Means, and Doesn’t Mean, for Harvey’s Victims
    08/30/2017

    Takeaways

    • Legislative revisions tighten rules and alter penalties regarding insurers accused of wrongful delay or denial of payments.
    • Companies and organizations with commercial insurance coverage need to be aware of it, but should not panic about the new legislation.
    • If you know you are likely to have a potential claim, then providing written notice in accordance with your polic(ies) before the effective date of the statute is a prudent choice.

  • Hurricane Harvey: Insurance Implications
    08/24/2017

    Takeaways

    • Category 3 Hurricane Harvey is projected to have sustained winds of 120 m.p.h. and disastrous amounts of rain, with a possible storm surge.
    • Business interruptions are already happening in advance of Harvey’s landfall.
    • Policyholders should take key steps to maintain and maximize insurance coverage for Harvey-related losses.