Recap of Hunton Insurance Recovery Group presentations in August and September 2019 focusing on key risk management techniques and strategies for maximizing recoveries under corporate insurance policies and enforcing indemnity rights under technology, sales, services, outsourcing, and other commercial contracts:

  • John Eichman and Sergio F. Oehninger presented a seminar on Electronic Crime – Insurance Coverage

Energy industry: is your insurance sufficient to handle a major cyber event? Larry Bracken, Mike Levine, and I address this question and more in our recent article for Electric Light & Power, found here.  In the article, we identify three major gaps in cyber insurance that we routinely see when analyzing coverage for energy industry clients. The first major gap is coverage for bodily injury or property damage caused by a cyber event. Most cyber insurance policies exclude coverage for both bodily injury and property damage, even if caused by a cyber event. Meanwhile, many commercial general liability insurance policies now exclude cyber-related risks, thus creating a gap in coverage for these losses. The second gap we identify is coverage for fines and penalties, including those issued under the European Union’s General Data Protection Regulation (GDPR). Even where cyber insurance policies expressly purport to cover fines and penalties, it is unclear if these may be deemed uninsurable as a matter of public policy in certain jurisdictions. Finally, we identify a gap in coverage for business income losses when the insured’s network, or that of a vendor on which they rely, goes down. That coverage is a key component of a robust cyber program, but one that is typically only offered for an additional premium.

Continue Reading Hunton Insurance Lawyers Discuss Cyber Risks to the Energy Grid in Electric Light & Power

As the 2019 hurricane season peaks, the Bahamas and the Southeast United States have already endured a catastrophic storm. Hurricane Dorian not only tragically caused loss of life and substantial property damage, but it also led to the cancellation or postponement of major events, resulting in considerable economic losses for affected companies.
Continue Reading Dorian’s Wrath: How Event Cancellation Insurance Helps Businesses Recoup Losses from Severe Weather

In a significant win for policyholders, the Ninth Circuit rejected an insurer’s argument that the common meaning of “war” applied when interpreting a war exclusion, instead of the customary usage of the term, pursuant to Cal.  Civ. Code 1644, and revived NBC Universal’s attempt to recover at least $6.9 million in costs incurred to relocate the production of a television show from Jerusalem during the 2014 Israeli-Palestinian conflict. Universal Cable Prods., et al., LLC v. Atl. Specialty Ins. Co., 2019 WL 3049034, at *10 (9th Cir. July 12, 2019).

Continue Reading It’s Not Rocket Science: Ninth Circuit Rejects Insurer’s Attempt to Invoke War Exclusion for Hamas Rocket Attack

In the first part of a 3-part series, the Hunton insurance team discusses how policyholders can plan for this year’s hurricane season. Part 2 will address how to prepare a claim after a loss in order to maximize the potential recovery, including by taking photographs of any damage and tracking curfews that affect your operations.  Part 3 will discuss how to prevent denials of pending claims based on suit limitations periods.  The team’s goal is to provide a comprehensive outline that will guide policyholders before and after a loss.

Continue Reading Hunton Insurance Team Helps Policyholders Prepare for the 2019 Hurricane Season, Part 1 of 3

A coverage dispute arising as a result of property damage from Hurricane Frances, which occurred in 2004, will continue following a Florida appellate court decision in an action brought against Citizens Property Insurance Corp.

Continue Reading Florida’s Citizens Property Insurance May Be Immune From Bad Faith, But Is Not Immune From Consequential Damages

Hunton Andrews Kurth insurance recovery partner, Lorie Masters, received a top “Band 1” ranking by Chambers and Partners in the Insurance: Policyholder category for the District of Columbia, and a “Band 2” ranking in the Insurance: Dispute Resolution: Policyholder – USA – Nationwide category.

Continue Reading Hunton Insurance Recovery Lawyers Ranked by Chambers as Top Insurance Practitioners

Hurricane Florence will affect the U.S. east coast later this week with significant damage to property and resulting business disruption.  Businesses far-removed from the impact zone also will be affected as manufacturing, retail, travel and supply chains, among other industries, are disrupted by the physical damage.  For those in the impact zone, knowing the fundamentals about your property insurance is critical.  For those in remote locations, now is a good time to refresh yourself as well, since post-storm disruptions and losses require prompt notice to insurers and fast action to help mitigate any resulting loss.  A failure on either front could jeopardize coverage.

Continue Reading As Florence Eyes East Coast, Are You Looking At Your Insurance?