RiskGenius Press

USING TECHNOLOGY AND WFH STRATEGIES, INSURTECH RESPONDS TO COVID-19 LOCKDOWN

This year, Rosenblatt’s 12th Annual FinTech Summit was a virtual event in wake of the COVID-19 crisis. We had a special focus…

Carriers must investigate and evaluate each policyholder’s pandemic claim and then thoroughly explain determinations.

“The cyber market was already hardening, so standalone policy limits were dropping as ransomware
attacks and other cyber events were a concern,” said Chris [Cheatham]. “It seems like those types of
ransomware attacks are only going to increase….everyone working at home only exacerbates the
potential for cyberattacks.

Please keep in mind that I am not declaring any particular language will or will not result in a valid claim
or successful litigation,” Cheatham wrote in his blog. “I am pointing out government language that I
believe will be used (and is already being used) by attorneys to support claims and litigation for COVID-
19 business interruptions.

Cities and counties across the country may have handed plaintiff’s attorneys an argument to use in lawsuits against insurers that seek business-interruption coverage for losses caused by coronavirus closure orders.

We call it emerging risk analysis, where you can look at all the insurance policies in a portfolio, find out which ones fall into which buckets and then triage around those.

It could easily take six to 12 months to understand if the language around business interruption, pollution, contamination, and a myriad other clauses creates inadvertent COVID coverage.

It could easily take six to 12 months to understand if the language around business interruption, pollution, contamination, and a myriad other clauses creates inadvertent COVID coverage.

It could easily take six to 12 months to understand if the language around business interruption, pollution, contamination, and a myriad other clauses creates inadvertent COVID coverage.