Preserving Business Interruption Insurance Coverage for COVID-19: Taking Action Today to Preserve Coverage Tomorrow
As the COVID-19 pandemic leads to business closures worldwide, impacted businesses are assessing their insurance policies for potential coverage for business interruption and other losses.
Business interruption coverage, a standard component of most commercial property policies, potentially responds to these losses. The novel questions raised by COVID-19 and the insurance industry’s stance against coverage raise difficult policy interpretation questions. Insureds and their advisors should understand these policies to evaluate potential coverage and curb further losses.
Join two of Bradley’s insurance coverage attorneys, Katherine Henry, leader of Bradley’s Policyholder Insurance Coverage Team, and Ben Milam, member of the Policyholder Coverage and Financial Services Teams, as they delve into the complex issues involving business interruption coverage. They will also discuss practical strategies for protecting insurance coverage in the midst of the COVID-19 health crisis.
Key issues that will be covered in this course are:
- Business Interruption Coverage for COVID-19
- Case Law Before COVID-19
- Legal Developments Since COVID-19
- Opportunities and Challenges
- Best Practices for Submitting and Managing Business Interruption Claims
Benjamin Milam, Attorney
Bradley Arant Boult Cummings LLP
Katherine J. Henry, Partner
Bradley Arant Boult Cummings LLP
- As COVID-19 causes widespread slowdown or suspension of business operations, policyholders and their counsel should evaluate potential business interruption coverage.
- Insurers are aggressively asserting coverage defenses to COVID-19 business interruption claims to limit their financial exposure.
- Insureds and their counsel should understand the basic mechanics of business interruption insurance, including available coverages, critical exclusions, and other key terms.
- The law before and after COVID-19’s inception, as well as recent legislative and litigation developments, could impact coverage.
- Insureds and their counsel should adhere to best practices for notice, proofs of loss, and claims management to preserve any available coverage.
Who Should Attend:
- Insurance Lawyers
- In-House and Outside Counsel
- Claims Executives and Managers
- Corporate Risk Managers
- Insurance Companies
Katherine Henry is the Chair of the Policyholder Insurance Coverage team. Katherine’s practice focuses on meeting clients’ business objectives in matters involving insurance. She regularly advises Fortune 10 and other companies on complex insurance programs involving manuscript and specialty policies, including programs with multi-national coverage towers of $500 million to $1 billion, and programs incorporating various risk transfer and financing mechanisms, such as fronting programs, paid deductible programs, and collateral agreements. Her practice spans all aspects of policyholder insurance coverage, from initial policy placement and renewals to claims management and litigation, both in the United States and abroad. Her past and present policyholder clients include two of the world's largest automakers, the world's largest home improvement specialty retailer, an auto insurance company, a vacuum cleaner manufacturer, a quasi-governmental defined benefit plan, numerous healthcare-related entities, a private-equity investment firm, various banks and financial institutions, and a national trade association for the gases and welding industry.
Katherine Henry is the Chair of the Policyholder Insurance Coverage team. Katherine’s practice focuses on meeting clients’ business objectives in …
Ben Milam is an associate attorney on Bradley’s Policyholder Insurance Coverage Team. Ben’s practice includes assisting clients with insurance needs, advising on matters of coverage, and helping policyholders resolve disputes with their insurer. He has assisted on a variety of insurance matters, including issues pertaining to commercial general liability, property, title, directors and officers and entity liability, and errors and omissions coverage.
Ben Milam is an associate attorney on Bradley’s Policyholder Insurance Coverage Team. Ben’s practice includes assisting clients with insurance needs, …
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Method of Presentation:
General knowledge of business insurance
NY Category of CLE Credit:
Areas of Professional Practice
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About Bradley Arant Boult Cummings LLP
Bradley is a national law firm with a reputation for skilled legal work, exceptional client service, and impeccable integrity. The firm provides business clients around the world with a full suite of legal services in dozens of industries and practice areas. Their nine offices are located in Alabama, Florida, Mississippi, North Carolina, Tennessee, Texas, and the District of Columbia, giving us an extensive geographic base to represent clients on a regional, national, and international basis. We frequently serve as national coordinating counsel, regional counsel, and statewide counsel for clients in various industries.
Although Bradley is a large law firm with over 500 lawyers, their clients still enjoy the personal attention, responsiveness, and deep relationships they would expect from a boutique firm. The fimr’s attorneys and staff combine legal experience and knowledge with sophisticated understanding of industries to work side by side with clients and come up with practical, strategic solutions specifically tailored to their businesses and operations. Bradley lawyers use their talents, judgment, work ethic, and experience to go above and beyond expectations to help our clients meet their goals.