Judge rules businesses can sue insurers for coronavirus losses
The coronavirus has upended lives and businesses around the globe. From business interruption and supply chain disruption to event and travel cancellations, we are only just seeing the beginning stages of COVID-19's impact. These articles provide valuable insights on insurance coverage, preparation tips and more to help individuals and businesses reduce exposures as the virus spreads.
Though most initial COVID-19 insurance-related analysis is focusing on first-party insurance, companies should also review their third-party insurance coverage in response to this pandemic.
Non-public companies would be well-advised in this review not to overlook directors and officers (D&O) insurance, which often provides quite broad liability coverage to such companies. Although D&O coverage for public companies is generally limited to “securities claims,” coverage for non-public companies generally includes any “claim” against the company not otherwise excluded. This broad coverage grant could prove extremely valuable for many non-public companies, given the volume and variety of lawsuits likely to result from COVID-19.
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