First-Party Property and Business Interruption Coverage After Hurricanes Harvey and Irma
Flood Exclusions, Concurrent Causation, Business Interruption Losses, and Off-Premises Time Element Coverages for Insureds and Insurers
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will discuss coverage disputes arising from natural disasters like Hurricane Harvey and Irma under commercial first-party property policies, including coverage for losses due to business interruptions at the insured site and off-premises damage causing loss for the insured. 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.
- First-party property coverage
- Named storm deductibles
- Storm damage vs. flooding
- Concurrent cause and anti-concurrent cause policy provisions
- Business interruption coverage
- Period of restoration—when it begins, ends, actual vs. theoretical time
- Interplay with physical loss
- Building ordinance or law
- Actual post-loss market conditions
- Contingent business interruption coverage
- Loss of electricity and gas shortages
- Damage to vendors and supply chains
- Civil authority interruptions
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?
- Can a generalized revenue shortfall following a catastrophic event sustain a claim for contingent business interruption—or must the insured identify specific suppliers or customers whose property was damaged?
- What are the contractual requirements and practical problems concerning contingent business interruption coverage?
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
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