log in
Submit an Article | Back

Member Articles

Selected Filters:
Practice Industry: Insurance

Sort By Title  |  Sort By Date

Synthetic W&I Solutions Post Covid-19
Shoosmiths LLP, June 2020

We are seeing an increase in the use of warranty and indemnity insurance (W&I) on transactions, which is a theme we expect to continue as buyers target companies that are in financial distress in the wake of Covid-19. W&I has become commonplace in the UK M&A market as a way to ‘bridge the gap’ between buyer and seller when allocating risk...

Challenges for Insurers from the COVID-19 Pandemic
Wardynski & Partners, June 2020

The unstable economic situation connected with the COVID-19 pandemic is also impacting the insurance industry. Dependent on global phenomena and trends, the insurance market will soon have to face anew economic reality, develop appropriate solutions for clients, and prepare to defend against claims...

Does a Property Insurance Policy Still Provide Coverage if a Business does not Reopen after the COVID-19 Stay At Home Orders are lifted?
Verrill, June 2020

Most property insurance policies in today’s market include a provision that causes coverage to lapse if the property is vacant (as defined by the policy) for a period in excess of 30 days. Fortunately, insurers have generally not enforced this limitation while businesses were under the COVID-19 orders that precluded them from being open to the public. As a result, in most situations, the property policies continued to provide coverage even if the buildings were arguably vacant...

The New Insurance Landscape in the Face of COVID-19
MinterEllisonRuddWatts, June 2020

Business interruption (BI) insurance policyholders across the globe have raised concerns around their insurers’ responses to their claims for business interruption losses arising from the COVID-19 pandemic. With many countries in lockdown, many businesses have been significantly affected. Those business have typically found that their claims for lost revenue/profit have been declined. Many BI policies contain specific exclusions for loss arising from pandemics such as COVID-19...

Law No. 21,232 that Amends Law No. 21,227, Which Authorizes Access to the Benefits of the Unemployment Insurance under Law No. 19,728 in Exceptional Circumstances, in the Matters it Indicates
Carey, June 2020

On April 6, 2020, Law No. 21,227 entered into effect, authorizing access to the benefits of the unemployment insurance in the context of the sanitary crisis caused by Covid-19 (hereinafter, the “Law on Employment Protection” or “LEP”). In order to improve the practical application and implementation of the aforementioned act, on June 1, 2020, Law No...

Commission for the Financial Market Pronounces Regarding the Scope of the Application and Effects of the New Article 30 of Law No. 21,227 - Covid Unemployment Insurance Law
Carey, June 2020

The Commission for the Financial Market (“ CMF ”), on May 28, 2020, has issued the Official Letter No. 22,260 (the “ Official Letter ”) in response to the pronouncement request sent by the Treasury Minister of the Chilean Government, Mr Ignacio Briones Rojas, to clarify the scope of the enforcement and the effects of the new article 30 of Law No. 21,227, which empowers the access to the unemployment insurance benefits provided in Law No...

COVID-19: A Practical Guide to Business Interruption Insurance Claims
Shepherd and Wedderburn LLP, June 2020

  Do I have a COVID-19 business interruption claim? Particularly if you operate in the leisure, retail or hospitality sectors, your business has likely suffered significant financial losses from the disruption caused by COVID-19. In trying to alleviate the impact of those losses, you might have identified that your business’s insurance policy offered cover for ‘business interruption’ (or ‘BI’)...

Insurance Recovery During the COVID-19 Pandemic: Navigating Your Policy's Microbe and Pollution Exclusions
Haynes and Boone, LLP, May 2020

As corporate policyholders continue to submit claims to their insurers for business interruption and related losses sustained from the COVID-19 pandemic, insurers appear to be denying such claims routinely where the policies at issue contain exclusionary language specific to viruses — whether in stand-alone virus exclusions or other types of exclusions...

Removal Ruling Raises Questions about Where COVID-19-Related Business Interruption Claims Should be Heard
Dinsmore & Shohl LLP, May 2020

Business interruption insurance claims related to the COVID-19 pandemic have raised numerous questions for practitioners, businesses, and insurers...

New Development in Insurance Regime: Insurance Amendment Bill and Insurance Amendment (No. 2) Bill
Deacons, May 2020

Two new bills, the Insurance Amendment Bill and the Insurance Amendment (No. 2) Bill have recently been gazetted making significant changes to the regulatory regime for insurance companies. Insurance Amendment Bill Special purpose insurer An amendment is made to allow registration of an insurance company which engages in special purpose business only...

How Captives Can Help Fill Pandemic Coverage Gaps
Bradley Arant Boult Cummings LLP, May 2020

An increasing number of captives have been looking at writing business interruption coverage for their owners. They should tread carefully, as doing so without following the correct procedures could have adverse tax implications. The outbreak of COVID-19 has caught many businesses off guard and in need of cash. Some hope their business interruption insurance policies will provide coverage for a loss of income suffered from a slowdown or suspension of operations...

IRS Issues Cafeteria Plan Relief to Address COVID-19 Pandemic
Hanson Bridgett LLP, May 2020

Key Points Cafeteria plans may permit mid-year election changes prospectively, including health and dependent care FSA contributions, to address effects of COVID-19 pandemic. Grace period for health and dependent care FSAs may be extended through 2020, even for plans that allow carryovers. Employers must notify eligible employees of temporary plan changes, and adopt plan amendments by the end of 2021...

Legislative Decree 1476: New Obligations for Private Schools are Established
Rodrigo, Elias & Medrano Abogados, May 2020

Legislative Decree No 1476 (hereinafter referred to as the Legislative Decree) was published on May 05 2020. This Legislative Decree, through which - as expressly established - the aim would be to guarantee the transparency of information in the provision of services provided by private educational institutions (hereinafter referred to as Schools), to enable users of said services to make an appropriate and timely decision on such services...

No Mask, No Service: Evolving COVID-19 Orders May Support Insurance Coverage for Retailers' Losses
Hunton Andrews Kurth LLP, April 2020

Many recent government orders require “nonessential” businesses to close due to COVID-19, resulting in massive financial losses for many retail businesses. The orders also change how “essential” retailers do business. For instance, Miami-Dade County’s mayor issued an executive order requiring people who visit or work at, among other places, grocery stores, restaurants and pharmacies to use face coverings...

Briefing on Issuances in Relation to the COVID-19 Pandemic (as of April 19, 2020)
SyCip Salazar Hernandez & Gatmaitan, April 2020

 This is a briefing on the following issuances as of April 19, 2020 in relation to the COVID-19 pandemic: A. Extension of Periods for the Filing and Submission of Various Documents and Payment of TaxesB. Mandatory Disclosure of Personal Information of COVID-19 Patients C. Securities and Exchange Commission (SEC) Issuances D. Bangko Sentral ng Pilipinas (BSP, the Central Bank of the Philippines) Issuances E. Insurance Commission (IC) Issuances F...

COVID-19: Impacts and New Guidance for Skilled Nursing Facilities
Spilman Thomas & Battle, PLLC, April 2020

The COVID-19 pandemic has had a disproportionate impact on skilled nursing and assisted living facilities. While the following CMS recommendations and guidelines identify nursing homes as the target recipients, they are applicable to all facilities that receive Medicare and Medicaid funds, and are therefore subject to CMS's oversight...

What can UK-Based (Re)Insurers Currently Providing Cross-Border Services in Hungary do to Prepare for the End of the Implementation Period Set in the UK-EU Withdrawal Agreement?
Szecskay Attorneys at Law, April 2020

How can UK-based insurance companies providing cross-border insurance services to Hungary prepare for 1 January 2021 (i.e...

D&O Insurance Coverage for COVID-19-Related Government Investigations
Hunton Andrews Kurth LLP, April 2020

Many directors and officers liability (“D&O”) policies contain a coverage extension for expenses incurred to respond to government investigations, including subpoenas and requests for documents, among other things. In most D&O policies affording this coverage, the coverage is available only if an individual insured receives a formal request from the government or is the target of the investigation, regardless of whether the company also is named...

First Employee Lawsuit Filed Seeking to Avoid the Workers' Compensation Exclusivity Bar for COVID-19-Related Injuries
Lowenstein Sandler LLP, April 2020

Among the many issues employers are struggling with in the midst of the current COVID-19 crisis is the risk of harm to an essential employee who is compelled to report to work. While, of course, most employers are proactively taking measures to minimize an employee’s risk of contracting the virus, there is a risk of exposure and illness inherent in coming to work...

Buchalter Client Alert COVID-19: Opposite Sides of the Table: Restaurants Seek Recovery From Insurers for Business Interruption in the Wake of COVID-19
Buchalter, April 2020

As COVID-19 cases have continued to spread across the country resulting in government-issued “shelter in place” orders, few industries have felt the impact as swiftly and deeply as the restaurant industry.  Indeed, such government orders have required restaurants to shut down all onsite dining, causing a sharp decline in restaurant revenue.  According to restaurant...

Buchalter Client Alert COVID 19: COVID-19 Insurance Coverage Checklist
Buchalter, April 2020

Businesses are experiencing devastating losses due to mandated restrictions and shutdowns, as well as the cancellation of events. What’s more, no one knows how long this will continue. As a result, many businesses are considering whether their insurance might provide some relief from the losses they already have incurred, or likely will incur, due to this crisis...

D&O Insurance Renewals: What Corporate Policyholders Need to Know in the “New Normal”
Lowenstein Sandler LLP, April 2020

Many companies are focused on their business interruption coverage in the face of coronavirus disease 2019 (COVID-19). But they must not let management liability insurance be a blind spot. Companies that are renewing their management liability insurance program (directors’ and officers’ (D&O), employment practices, and fiduciary liability) must be prepared for a hard look by underwriters as they react to COVID-19 and consider its effects going forward...

CMS Waivers and Flexibilities
Spilman Thomas & Battle, PLLC, April 2020

In times of emergency, the Secretary of Health and Human Services (the "Secretary") has authority to issue temporary waivers or modifications of certain Medicare, Medicaid, CHIP, and HIPAA requirements. The Centers for Medicare and Medicaid Services ("CMS") has released a substantial number of waivers in response to the coronavirus national emergency...

Medicare Coverage for Virtual Healthcare Services
Spilman Thomas & Battle, PLLC, April 2020

On March 17, 2020, the Trump administration announced an expansion of Medicare coverage for virtual health services. The Medicare expansion is intended to make medical offices more available to people who need to be seen in-person and to mitigate the spread of the novel Coronavirus. Medicare can now pay for office, hospital, and other visits furnished via virtual services across the country, including a patient’s place of residence, starting March 6, 2020...

Telehealth and HIPAA Compliance During the COVID-19 Pandemic
Spilman Thomas & Battle, PLLC, April 2020

Telehealth is not a new concept, but it has been accelerated to the forefront recently by government mandated social distancing. While all of the "stay-at-home" orders issued across the country to date have included exceptions that permit individuals to leave their homes to seek medical treatment, providers may feel an obligation to offer telehealth services to protect not only their patients, but also the provider's staff, and to support the national effort to "flatten the curve...

 

 

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

HOME | SITE MAP | GLANCE | PRIVACY POLICY | DISCLAIMER |  © World Services Group, 2020