Business interruption (BI) is a significant concern for professional services firms — whether it be lawyers, accountants, medical professionals or consulting agencies. Any disruption, whether due to physical damages or technology downtime, can …
This may be hard to believe, given that it’s now outlawed due to its adverse impact on human health, but asbestos was once considered a “miracle mineral.” Because asbestos is abundantly available and has some industrially useful properties, it was ve…
In a typical day, a variety of situations may unfold that could stop a business’s operations in its tracks. Consider for example, a warehouse of consumer goods is heavily damaged by a tornado. It partially rips off the roof and destroys a considerabl…
On Tuesday, 14 February, and for only the third time in history, the New Zealand government announced a national state of emergency. The flooding and destruction that followed in the wake of Cyclone Gabrielle left Northland, parts of Auckland and the…
As reported in the Financial Times, on 31 August 2022, the head of one of the world’s largest building materials companies confirmed that he’s seeing a ‘second wave of cost increases’ following the surge in gas prices. Spiralling energy prices are …
Lees de Nederlandse versie. Amid economically challenging times, measures to combat the spread of COVID-19 negatively impacted sales for entrepreneurs worldwide. During lockdown periods, the Netherlands government organized assistance to mitigate th…
Read the English version. In de recente economisch uitdagende tijden rond COVID-19 hadden maatregelen om de verspreiding van COVID-19 tegen te gaan een negatief effect op de omzetontwikkeling van ondernemers wereldwijd. Tijdens lockdown-periodes org…
In the aftermath of a disaster event like Hurricane Ian, organizations tend to think about damage in terms of drying carpet, removing drywall, mitigating mold, and making sure the building is structurally and environmentally safe for the rebuilt that…
As we navigate reoccurring global events and uncertain times, insurance continues to play a critical role in risk transfer — providing assurance and allowing organizations to continue business as usual. Covers like business interruption (BI), c…
Forensic investigators are often presented with puzzling cases where the obvious evidence doesn’t naturally point to the cause, and further in-depth analysis is required to determine exactly what went wrong. While carrying out an on-site investigatio…
All too often, we see claims where an insufficient Maximum Indemnity Period (MIP) has been set — resulting in serious consequences related to the recovery of the policyholder’s business. When the MIP — known as the time interval for insur…
On 21 February 2022, the Full Court of the Federal Court delivered the highly anticipated judgment in the appeal of the second Insurance Council of Australia (ICA) business interruption test case. In this update, we explore the impact of this decisio…
There are approximately 4.3 million small or medium-sized enterprises (SMEs) in the UK and alarmingly, around 80% are underinsured. In addition, government research suggests that one in five businesses suffer a major disruption every year — wit…
In most court decisions there can be surprises, and one could say that the decision of Jagot J in the Second COVID-19 Insurance Test Case had its own share of the unexpected. In reviewing the decision in the Second Test Cases, the aspects that relate…
Since the outbreak of COVID-19 in early 2020, there has been intense interest in the extent to which business interruption policies would respond to claims for business losses arising from COVID-19. In September 2020, Sedgwick published an extensive…