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Maryland’s highest court adopts pro rata allocation for asbestos-related bodily injury claims under liability policies. The court began by explaining that injury spanning many years often implicates multiple policies and, therefore, implicates a continuous or injury-in-fact trigger under Maryland law. Adopting the reasoning of Mayor & City Council of Baltimore v. Utica Mutual Ins. Co., 802 A.2d 1070 (Md. Ct. Spec. App. 2002) , app. dismissed, 821 A.2d 369 (Md. 2003), it rejected joint and several allocation because of its “poor fit” under the policy language: [T]he pro rata approach is unmistakably consistent with the language of standard CGL policies. Indeed, “there is no logic to support the notion that one single insurance policy among 20 or 30 years worth of policies could be expected to be held liable for the entire time period.” …Consistent with the policy language limiting coverage to that which occurs “during the policy period,” the timing of t ....
Live Nation Entertainment The promoter says it s lost hundreds of millions since the pandemic shut down touring, but Factory Mutual refuses to honor its premium policy. Live Nation is suing its insurance company for refusing to cover hundreds of millions in losses caused by the coronavirus pandemic. In a new lawsuit filed in California federal court on Jan. 29, Live Nation claims that Factory Mutual is refusing to honor the premium policy it sold the promoter despite language that communicable diseases like COVID-19 were covered. Live Nation is the latest company to join a growing group who say that Rhode Island-based insurer Factory Mutual has failed to pay out claims on its Global Advantage All-Risk property insurance policy. The touring giant purchased the policy “at significant expense” on June 1, 2019, for coverage through June 1, 2020, states the filing, submitted by Live Nation s outside counsel ....
Year in Review: Top Insurance Cases of 2020 Thursday, January 28, 2021 Not surprisingly, COVID-19 business interruption insurance disputes dominated media headlines for most of 2020. Nonetheless, there were a number of other insurance rulings that will undoubtedly shape the coverage landscape. Policyholders enjoyed a number of significant wins including significant victories related to COVID-19 business interruption cases. The start of a new year gives us an opportunity to highlight some of 2020’s most notable coverage decisions. COVID-19 Business Interruption Insurance companies’ widespread blanket denials of policyholders’ claims for business interruption due to COVID-19 for companies ranging in size from small mom-and-pop shops to large retailers prompted a flood of litigation in both state and federal courts. Although 2021 shows promise for gaining control over the disease, the resulting insurance disputes are certain to remain center stage. Wh ....
To embed, copy and paste the code into your website or blog: The ongoing COVID-19 pandemic has impacted the United States economy in a profoundly negative manner. Retail stores, restaurants and other direct-customer-facing businesses have been especially hard hit. Throughout the U.S., most states and municipalities have at various points throughout the pandemic issued “shut down” orders to businesses in order to mitigate the spread of the virus. Businesses complied and suffered tremendous losses as a result. As we forecasted, many businesses subsequently filed claims with their commercial liability insurers, typically claiming that their losses are covered under the “business interruption” or the “civil authority” provisions of their policies. Those provisions are generally intended to provide coverage as follows: ....
To embed, copy and paste the code into your website or blog: COVID-19 has certainly been a devastating and disrupting force for businesses in 2020. Since the pandemic began, a major point of contention between corporate policyholders and insurers is whether these disruptions rise to “business interruptions” as defined under insurance policies offering business interruption (BI) coverage. Companies often purchase BI coverage as part of traditional “all-risk” commercial property policies., and the coverage is generally designed to cover lost income (often in the form of reduced gross earnings) arising from disruptions to an insured’s business operations. This update serves as a brief summary of how coronavirus-related BI coverage litigation has panned out thus far. ....