The average cost of a business interruption claim is nearing $1 million, an upward trend that appears to have several causes.

When COVID-19 first disrupted the global economy in March 2020, businesses in Pennsylvania and New Jersey—like their counterparts nationwide—turned to insurance as a possible safety net. Many ...

The December 2022 decision of 'New England Systems, Inc. v. Citizens Insurance Company of America' used the term "impairment" in the business interruption coverage section of a cyber-risk policy, to ...

Business interruption claims severity is rising sharply, with average claim values rising by more than 30% annually over the past two years, according to a report issued Thursday by Allianz Commercial ...

With PG&E warning of potential outages across 29 counties, brokers say clients need to understand what their policies may not ...

The recent fires in Los Angeles have left many businesses grappling with significant disruptions. For business owners, navigating the aftermath of such a catastrophe often includes understanding how ...

Companies are increasingly at risk from surging business interruption losses due to concentrated production, fragile supply chains, geopolitical tensions, inflation, and growing technology ...

Rising business interruption losses are increasingly hitting companies, with fire and explosion driving the costliest claims ...

In the wake of recent weather events around the world, whether it’s the bomb cyclone that hit the US from the Gulf Coast to New England, or the combination of Storms Ingrid and Chandra battering the ...

Few industries evaded the effects of the COVID-19 pandemic. But for the insurance industry, the effects were twofold. On one hand, COVID impeded insurance firms from conducting business as usual. On ...

A business owner's policy is a packaged insurance policy that includes general liability coverage and property insurance ...

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