Lathrop GPM Insurance Recovery attorneys are busy advising clients on insurance coverage issues in the wake of the COVID-19 pandemic. We’ve also been tapped to share insights with various media outlets on the topic. Below please find a sampling of articles and media clips since the last time a listing was shared on our March 25, 2020 blog post:
Despite devastating losses due to the forced closure of their businesses and the effect of social distancing mandates, most policyholders around the country that have made claims for business interruption losses under their property policies, are getting a uniform response: Claim denied!
The answer is maybe; but you will not know without a thorough review of all potentially applicable policies.
Lathrop GPM Insurance Recovery attorneys are busy advising clients on insurance coverage issues in the wake of the COVID-19 pandemic. We’ve also been tapped to share insights with various media outlets on the topic. Below please find a sampling of articles and media clips:
The coronavirus or COVID-19 global outbreak has struck fear in the hearts of many of us. As the disease spreads, however, it brings with it not only health concerns, but also serious financial consequences for commercial enterprise. And with any potential loss of business comes the inevitable question: Will my insurance cover this?
Excess insurance, while great for mitigating risks of large losses to policyholders, does not always cooperate during litigation. This is particularly true during settlement negotiations, as excess insurers do not have an obligation to settle in good faith until it’s their turn to defend. This was the decision of the Seventh Circuit in Fox v. Am. Alt. Ins. Corp., 757 F.3d 680 (7th Cir. 2014). In Fox, the plaintiff twice made demands for settlement, both before and after a jury verdict came down, that was in excess of the primary policy. But, as the excess insurer had no duty to defend until the primary policy was “exhausted,” meaning actually paid out, the Seventh Circuit found that in neither demand had the excess insurer violated their duty to settle in good faith.
Nancy Sher Cohen, leader of our Los Angeles office and a leader of our Insurance Recoveries and Counseling practice group, recently sat down with Burford Capital's Andy Lundberg to discuss topics of concern for clients pursuing or considering complex insurance coverage claims. Areas covered include the future of insurance coverage litigation, budgeting for and managing the expense of big coverage litigation, use of alternative fee arrangements, and how legal finance could help policyholders manage cash flow.
Corporate officers and directors should be able to lead confidently and sleep at night without worrying that their personal assets may be at risk because of personal liability. D&O insurance provides such “sleep at night” coverage for claims alleging breach of their duties. However, there are a few key issues to consider when purchasing a D&O policy that can maximize coverage.
The Midwest is experiencing record-breaking flooding this year, bringing back memories of the devastating and costly floods of 1993. Without a doubt, business losses and business interruption claims will be substantial. This post explores when an insured might have coverage for business interruption even if it does not incur significant flood-damage to its own property. As with any coverage claim, the merits will depend on the specific language in the policy and the specific circumstances of the claimed loss. But, here’s a rundown of some common policy provisions and issues to keep in mind.
In an Opinion dated May 29, 2019, the U.S. Court of Appeals, Fifth Circuit, ruled in Travelers Indemnity Co. v. Ethel Mitchell that multiple insurers must provide coverage to a defendant county and its officials sued in a §1983 wrongful imprisonment lawsuit, including certain insurers who issued policies in post-conviction years.
About this Blog
Lathrop GPM is one of the largest law firms in the United States representing policyholders, providing policyholders with the necessary guidance and legal counsel to handle everything from negotiating coverage and managing risk to litigating insurance disputes and recovery. The Road to Insurance Recovery blog is dedicated to helping readers better understand and manage the complexities of the modern business insurance policy.