Business Interruption and First-Party Property Coverage After Hurricanes, Floods: Issues for Insurers and Insureds
Flood Exclusions, Concurrent Causation, Business Interruption Losses, and Off-Premises Coverage
A live 90-minute CLE video webinar with interactive Q&A
This CLE course will address issues faced by insurers and policyholders responding to claimed losses arising from natural disasters like Hurricane Ida under commercial first-party property policies, including coverage disputes concerning claims due to business interruption at the insured site and due to off-premises damage. The panel will discuss deductibles and exclusions that often create difficulties and the differences between direct and contingent business interruption coverage. The program will discuss steps that counsel to policyholders should take to prepare to file claims and considerations for insurers planning for a deluge of claims in light of lessons learned from prior storms.
- First-party property coverage
- Named storm deductibles and sub limits
- Storm damage vs. flooding
- Concurrent cause, efficient proximate cause, and anti-concurrent cause policy provisions
- Business interruption coverage
- Period of restoration: when it begins, ends, actual vs. theoretical time, extended period of indemnity
- Requirement of direct physical loss or damage
- Ordinance or law coverage and exclusions
- Actual v. anticipated post-loss market conditions
- Contingent business interruption and other additional coverages
- Contingent business interruption – damage/disruption to vendors, supply chains, dependent properties
- Off-Premises utility interruption coverage
- Civil authority interruptions
- Impairments to ingress and egress
The panel will review these and other key issues:
- How do courts treat flood and storm surge exclusions and "anti-concurrent causation" policy provisions?
- How will the specific business interruption policy language affect the appropriate "period of restoration" and the suitable location of the insured's business?
- How many “occurrences” of loss (and deductibles) arise from an event or series of events that occur over time?
- How do post-storm changes in the local or regional economy affect an individual insured’s business interruption claim?
- What constitutes a “supplier” for purposes of contingent business interruption coverage?
Finley T. Harckham
Mr. Harckham regularly represents and advises corporate policyholders in insurance coverage matters. He has... | Read More
Mr. Harckham regularly represents and advises corporate policyholders in insurance coverage matters. He has successfully litigated, arbitrated and settled hundreds of complex coverage claims. His areas of particular focus include property loss, business interruption, directors and officers liability, construction, professional liability, aviation liability and general liability claims. He also founded two Anderson Kill non-legal subsidiaries, Anderson Kill Insurance Services, LLC, and Anderson Kill Loss Advisors, LLC, which provide insurance consulting and property and business interruption loss quantification and settlement services.Close
Raymond T. DeMeo
Robinson & Cole
Mr. DeMeo handles insurance litigation, including claims stemming from large-scale natural and man-made disasters. He... | Read More
Mr. DeMeo handles insurance litigation, including claims stemming from large-scale natural and man-made disasters. He has extensive experience with complex and high-exposure property and general liability insurance claims and litigation, including class action lawsuits, domestically and internationally. Before joining the firm Mr. DeMeo was Assistant Vice President and Managing Counsel at Travelers Property Casualty Company, where he oversaw all commercial property insurance litigation nationwide, including bad faith lawsuits arising from property insurance claims. He directly supervised the World Trade Center property insurance litigation and oversaw all litigation arising from Hurricane Katrina.Close
to be announced.
Early Discount (through 11/12/21)
Cannot Attend December 7?
Early Discount (through 11/12/21)
You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.