Business Interruption Insurance Solutions Amidst The Covid 19 Pandemic PDF Download
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Author | : Alexa Tannenbaum |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : |
ISBN | : |
Download Business Interruption Insurance Solutions Amidst the COVID-19 Pandemic Book in PDF, ePub and Kindle
Business interruption insurance serves to replace income lost in the event of damage to property. The obligation of insurance companies to pay for losses due to the COVID-19 pandemic -- an event that did not physically damage property, but still halted business -- sparked much debate. This paper reserves this dispute for the courts; instead, it aims to look forward and explore options for insuring pandemic risk. Due to the daunting severity and scope, a partnership between private insurers and the government to manage the risk is likely, with the Pandemic Risk Insurance Act (PRIA) based on the Terrorism Risk Insurance Act and the Business Continuity Protection Program (BCPP) based on the National Flood Insurance Program as major proposals. This paper explores the two programs in the following: their history and justification for proposition, the partnerships that served as their blueprint, and their benefits and drawbacks. Results indicate that the BCPP offers a more favorable solution from both financial and administrative lenses.
Author | : María Luisa Muñoz Paredes |
Publisher | : Springer Nature |
Total Pages | : 354 |
Release | : 2023-01-10 |
Genre | : Law |
ISBN | : 3031137531 |
Download Covid-19 and Insurance Book in PDF, ePub and Kindle
This book offers a novel study on the impact of the Covid-19 pandemic on insurance from an international and comparative perspective. It assesses how insurance has to adapt to a new landscape, the effects of which will last over time and cut across all areas of the field. To avoid physical contact, digitalisation has accelerated dramatically, affecting insurance in all its phases: risk selection, underwriting, pricing and claims settlement. However, the effects of the Covid-19 pandemic go far beyond that. The extent to which a claim caused directly or indirectly by the virus is or is not covered by a given policy has been the subject of debate in many insurance branches. The most litigated cases worldwide are those that concern damages resulting from business interruption due to restrictions enforced by the authorities in virtually every country. This book analyses the rulings (for and against the insured) that have already been handed down by courts in various jurisdictions (for example in the US, Latin America, Spain and Germany), in order to provide guidance to the parties in future lawsuits and also to guide the courts’ own responses. This analysis extends to the measures that governments have taken in relation to insurance during the pandemic, as well as the changes that insurers have introduced in their general conditions to exclude coverage for the pandemic. This response is unsatisfactory, as the big question is how pandemic-related risks can be covered if private insurers simply refuse to do so. Solutions based on risk sharing with public entities or the use of contractual modalities such as parametric insurance are among those outlined by the authors. The book was written by experts from academia and lawyers specialising in this field, and written for all those interested in the field of insurance: lawyers, judges, academics and legal professionals.
Author | : Jared A.. Fiore |
Publisher | : |
Total Pages | : |
Release | : 2020 |
Genre | : Business insurance |
ISBN | : |
Download Deciphering Business Interruption Insurance in the COVID-19 Crisis Book in PDF, ePub and Kindle
Author | : Robert Clark |
Publisher | : IT Governance Ltd |
Total Pages | : 456 |
Release | : 2022-07-26 |
Genre | : Computers |
ISBN | : 1787782921 |
Download Business Continuity and the Pandemic Threat - Learning from COVID-19 while preparing for the next pandemic Book in PDF, ePub and Kindle
The book looks at case studies, reviewing how different industries have been impacted by the pandemic, with the author also reflecting on his own personal experience. It also discusses the ways the virus has affected our economy and daily routines, and the psychological impact.
Author | : Didier Schütz |
Publisher | : |
Total Pages | : 0 |
Release | : 2024-05-02 |
Genre | : Business & Economics |
ISBN | : 9782957873593 |
Download Business Interruption, Supply Chain & Contingency Book in PDF, ePub and Kindle
Black and white illustrations - 2nd edition 2024 - English Business Interruption for an organization that has suffered a direct property loss, failure of the supply chain or any other adverse conditions is far from an emerging risk. It is, rather, a latent risk that emerges regularly in the wake of large-scale events that have world-wide ramifications; natural disasters, nuclear events or even pandemics. We find it hard to imagine a large-scale disaster and to even consider the possible long-term fallout. We tend towards short memories and, above all, staying well within our comfort zones, as illusory as they may be. Wisdom and common sense are thrown to the wind. We are, in fact, quite happy living on top of a ticking time bomb. This updated, and expanded second edition, was written shortly after the COVID-19 lockdown of 2020-21. This book seeks to provide a comprehensive understanding to the reader of the concept and philosophy of Business Interruption and define this and other related topics related to risk engineering and insurance solutions. Above all, this book underlines the need for (and advantages of) a proper and practical Risk Management Policy. Furthermore, the recent COVID-19 pandemic, realized some key risks to an organizations supply chain, something that the vast majority did not account for in their risk assessments. This book considers this recent occurrence and takes stock of the current global supply chain and how the risks involved have been managed. In addition, this edition offers more examples based on situational and empirical cases; what worked and what didn't.
Author | : Chibueze Muobuikwu |
Publisher | : |
Total Pages | : 10 |
Release | : 2020 |
Genre | : |
ISBN | : |
Download An Appraisal of the Business Interruption Insurance Coverage in Nigeria in the Face of the Recent COVID-19 Pandemic Book in PDF, ePub and Kindle
The outbreak of corona virus (COVID-19) pandemic has no doubt, occasioned an unprecedented global human and economic crisis. The resultant lockdown and abrupt shutdown of major economic activities in the world have apparently given rise to several business disruptions and economic losses across the world including Nigeria. According to Kristalina Georgieva, Managing Director of International Monetary Fund (IMF), the economic effect of the pandemic would result in “a recession at least as bad as during the Global Financial Crisis or worse”, and this is because the world is currently experiencing the most difficult economic situation since World War-II. The consequence of the foregoing crisis is that many organizations would be seeking for ways to ameliorate the effect of the pandemic on their businesses. One of the options open to some businesses is to have recourse to their insurance policies, and the most significant insurance coverage which business owners would resort to, is the business interruption insurance coverage. This write up examines the concept of business interruption coverage; the extent which such insurance claims may be potent for the insured business owners in the face of the recent pandemic, and the extent of its viability in the light of the Nigerian insurance legal framework.
Author | : Lloyd S. Dixon |
Publisher | : |
Total Pages | : 106 |
Release | : 2021 |
Genre | : Business & Economics |
ISBN | : 9781977407078 |
Download Improving the Availability and Affordability of Pandemic Risk Insurance Book in PDF, ePub and Kindle
This report evaluates and models proposals for an insurance-based program to provide businesses with resources to maintain payroll and benefits and cover ongoing operating expenses during a pandemic.
Author | : Neil Fawcett |
Publisher | : |
Total Pages | : 0 |
Release | : 2022-04-22 |
Genre | : |
ISBN | : 9781913715779 |
Download A Practical Guide to Business Interruption Insurance Book in PDF, ePub and Kindle
A practical guide to a fast-developing area of law of substantial importance to businesses hit by the effects of COVID-19 and the imposition of restrictions by the UK Government. The book explains in practical terms the complex decisions in the FCA test case and subsequent appeal to the UK Supreme Court, dealing with the key differences between policies, the definitions of specific words and phrases in insurance contracts, and the new approach to causation in claims arising from the pandemic. This guide provides a walk through of examples of policy wordings, recent decided cases, FCA guidance and the practical and tactical aspects of insurance litigation. It is suitable for practitioners and businesses alike. ABOUT THE AUTHOR Neil Fawcett was called to the Bar of England and Wales in 2006 and was appointed a Deputy District Judge in 2015 sitting in the civil jurisdiction. He currently practices at the Bar from 3 Paper Buildings in the fields of Commercial and Chancery Litigation, with a particular focus on Insurance, Property, and Commercial litigation. CONTENTS Chapter One - COVID-19 Chapter Two - Government Intervention Chapter Three - Categories of Business Chapter Four - The FCA Test Case Chapter Five - Policies and Clauses Chapter Six - The Nature of Insurance Policies Chapter Seven - Causation Chapter Eight - Disease Clauses Chapter Nine - Denial of Access Clauses Chapter Ten - The Measure of Loss Chapter Eleven - Insurance Claims Chapter Twelve - Broker Claims Chapter Thirteen - Litigation Funding Appendix - Sample Particulars of Claim
Author | : |
Publisher | : |
Total Pages | : 38 |
Release | : 2021 |
Genre | : |
ISBN | : |
Download Responding to the COVID-19 and Pandemic Protection Gap in Insurance Book in PDF, ePub and Kindle
The COVID-19 pandemic and the measures taken to limit the spread of the disease have significantly disrupted economic activity in countries around the world, resulting in significant business interruption losses. The vast majority of these losses are likely to be absorbed by policyholders as, unless governments (or courts) intervene, few companies have business interruption coverage that is likely to respond to these types of losses - exposing the existence of an important protection gap for some pandemic-related business interruption losses. This note provides an overview of how business interruption insurance against pandemic risk could be provided with support from governments, and some of the challenges and considerations necessary for establishing such a programme.
Author | : Ms.Ratna Sahay |
Publisher | : International Monetary Fund |
Total Pages | : 83 |
Release | : 2020-07-01 |
Genre | : Business & Economics |
ISBN | : 1513512242 |
Download The Promise of Fintech Book in PDF, ePub and Kindle
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.