Tag Archives: Commercial Insurance Claims
Carrier’s Reliance on CPA’s Report to Support Business Income Loss Calculation is Not Sufficient to Defeat Bad-Faith Allegation – Understanding Business Interruption Claims
A federal court in California recently denied AMCO’s request to enter judgment in its favor and dismiss a policyholder’s allegations of bad-faith in the handling of a business income loss claim. In A-1 Transmission Automotive Technology, In…
Red River Waterway’s 15-day Closure Caused Millions of Dollars in Losses – Understanding Business Interruption Claims
Traversing over 225 miles, the Red River Waterway has become a strategic cargo and customs hub for the South. It is linked to the Mississippi River and Gulf Intracoastal Waterway and it also sits amidst a Louisiana Highway system, major interstate high…
Thailand Flood Claims Are Expected to Be Higher Than Initially Estimated
A recent online publication of Insurance Journal highlighted A.M. Best Co.’s quarterly estimates of insurers’ losses from the Thailand floods. The current estimate is $15 billion, a 50% increase since Best’s last briefing of Nov….
Commercial Insurers Ranked Poorly in New Zealand
On February 22, 2011 a 6.3 magnitude earthquake destroyed thousands of homes and businesses in Canterbury, New Zealand. To make matters worse, the catastrophe area experienced a series of earthquake aftershocks as late as December of 2011, which inevit…
Why Offset The Net Loss? – Understanding Business Interruption Claims
About a year ago, a California Court of Appeals published an opinion that invigorated the debate over the proper methodology or calculation of a business income loss. In Amerigraphics v. Mercury Casualty Company, 182 Cal. App. 4th 1538 (March 23, 2010)…
How Many Deductibles? Proper Application Of Deductible Under A Blanket Policy On Commercial Properties
A blanket property insurance policy covers different types of property at one or more locations and does not specify the valuation of the items protected under the blanket, but instead allocates an overall limit to the policy, upon which premiums are b…
Ordinary Payroll Coverage Can Be Extraordinarily Tricky- Understanding Business Interruption Claims
When measuring a business income loss, a company can treat all payroll and benefits (if directly related to payroll, i.e., FICA, worker’s compensation, etc.) as “continuing expenses” in its accounting worksheet as defined in CP 00 30 …
Crop Insurance: A Necessity for Farmers
There are all kinds of insurance products out there and there are new products in the pipeline. An example: crop insurance. A Fremont Tribune article, Insurance a bigger factor in planting picture, discusses the importance of farmers maintaining both c…
A Heavy Loss Is Limited – Understanding Business Interruption Claims
The Fifth Circuit Court of Appeals limited a policyholder’s recovery in its most recent opinion, National Union Fire Insurance Company v. Gulf Island Fabrication (No. 11-30375, March 9, 2012).
On April 29, 2008, four cranes were being used to lif…
Will Your Business Be Covered When It Needs it The Most? – Understanding Business Interruption Claims
Last month, in Service One Cable T.V., Inc. v. Scottsdale Ins. Co., 2011-1469 (La. App. 1st Cir. February 10, 2012), the Louisiana First Circuit Court of Appeals decided that a cable service company did not have coverage under its commercial property d…
