Join our discussion about the current state of affairs of insurance coverage for loss of profits claims grounded on the confinement and other restrictions instituted during the Covid19 pandemic.
Our panel of experts will debate the current law of the land both from the insurers as well as the insured side - in Europe and the U.S., and share how companies have addressed claims in this environment. We will also analyze how the insurance market is regulated in select jurisdictions and offer an outlook what changes (if any) can be expected on both sides of the Atlantic to better address future crises.
AGENDA:
Introduction/setting the stage:
● Loss of Profit in P&C insurance before the pandemic
● Specialized insurance and commercial property insurance policies
● Key issues from the “old” times
First reactions/first claims after the Great Lockdown
● How the governments/administrations have dealt with these claims at the beginning?
● How the public insurers (if any) reacted?
● First legal actions
● What were the market reactions?
● Market developments in the early stage
● Effects of political turmoil
How Loss of Profit is commonly regulated in insurance contracts
(Country-by-country cases - Spain, France, Ireland, UK, U.S.)
● The “I cover what I cover” versus the “you cover what you don’t exclude” dangerous debate
● What the loss of profit really covers in the vast majority of cases
● The difference between retail & great risks, multi-risks & loss of profit autonomous covers
● Unfair limitations on the coverage vs. legal delimitations of the coverage
Coverage Takeaways & “What’s Next?
● Pandemic Risk Insurance Act US // EU Level/Member state level
● Pandemic-specific exclusions what does the future hold
● Climate Change Insurance
SPEAKERS:
● Joaquín Ruiz-Echauri, Partner, PÉREZ-LLORCA
● Christopher Bechhold, Partner, @thompsonhinellp4409
● Catherine Derrig, Partner, @mccannfitzgerald
● John Lavelle, Director, @bpl5900
● Yvonne Bendinger-Rothschild, Executive Director, EACCNY [Moderator]
26 сен 2024
