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Top News In Texas Insurance Code Today - Breaking & Trending Today

Six Flags Says Insurer Withheld Coverage Of Investor Suits

Six Flags Entertainment Corp. says a Travelers unit wrongfully refused to cover it in underlying investor class litigation and a U.S. Securities and Exchange Commission investigation over inflated stock prices after the company allegedly exaggerated overseas business successes. ....

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Insurers' COVID-19 Notepad: What You Need to Know Now (Week of May 17) | All Alerts & Newsletters

May.18.2021
Courts Dismiss COVID-19 Business Interruption Claims
On May 7, 2021, the district court for the Northern District of Illinois granted Westfield National Insurance Company’s motion to dismiss a Chicago bakery and a salon’s complaint alleging coronavirus-related business interruption losses. Determining the virus exclusion unambiguously bars coverage for loss indirectly caused by the coronavirus, the court found meritless the plaintiffs’ argument that the government closure orders, rather than the virus, caused their losses. Order at 7-8. Including the virus exclusion within the policy “undercuts” any argument “that Westfield unjustifiably denied” their claims.
Id. at 10.
On May 10, 2021, the Circuit Court of Cook County, Illinois granted with prejudice Motorists Commercial Mutual Insurance Company’s motion to dismiss a COVID-19 business interruption claim filed by the operator of automobile dealerships and repair shops. The court found t ....

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Texas Windstorm Insurer Plans for $4B in Funding for Hurricane Season

Texas Windstorm Insurer Plans for $4B in Funding for Hurricane Season
insurancejournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insurancejournal.com Daily Mail and Mail on Sunday newspapers.

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Commercial Property Insurance Coverage for Texas Winter Freeze Losses | Zelle LLP

Claims Journal
To read this article in PDF format, please click here.
For an incredible 10-day period in mid-February, Texas was battered by a brutal winter storm bringing snow, ice, and record-low temperatures. Millions of Texans were without power and water for days. These conditions forced thousands of Texas businesses to close during the storm. Many of these businesses also sustained property damage from pipe bursts and resulting water discharge. The property insurance claims have already started to come in. Some believe the storm will be the largest insurance event in Texas history.
Unlike most states, where power grids are interconnected, Texas has its own intrastate power grid that supplies power to 90% of the state, according to a report in the Texas Tribune. That grid is operated by the Electric Reliability Council of Texas (“ERCOT”). ....

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Commercial Property Insurance Coverage for Texas Winter Freeze Losses

Commercial Property Insurance Coverage for Texas Winter Freeze Losses
claimsjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from claimsjournal.com Daily Mail and Mail on Sunday newspapers.

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