Legal Affairs / General

Business interruption non-damage extension insurance indemnity periods

US jury rejects restaurant Covid-19 insurance claim

Readers who have been following the Covid-19 business interruption litigation in the USA will know that the courts have largely, at summary judgment stage, dismissed claims for coverage alleging that the virus caused physical damage to insured premises.

Disclaimer of liability clauses

A contract of carriage had been concluded by way of an exchange of e-mails. After conclusion of the contract, the customer had signed a credit application with standard trading conditions which contained an exemption from liability for loss or damage.

Silent cyber and ransomeware cover (US)

The insured was locked out of its computer systems with the hard drives encrypted as a result of a ransomeware attack. It ultimately paid the requested ransom with four bitcoins valued at nearly $35 000 before it regained access to its computer systems. The court held that, if fraud was established, the insurers would have to pay the ransom loss under computer fraud coverage despite the fact that the insured had not purchased the available computer virus and hacking coverage.