In a typical day, a variety of situations may unfold that could stop a business’s operations in its tracks. Consider for example, a warehouse of consumer goods is heavily damaged by a tornado. It partially rips off the roof and destroys a considerabl…
On Tuesday, 14 February, and for only the third time in history, the New Zealand government announced a national state of emergency. The flooding and destruction that followed in the wake of Cyclone Gabrielle left Northland, parts of Auckland and the…
As reported in the Financial Times, on 31 August 2022, the head of one of the world’s largest building materials companies confirmed that he’s seeing a ‘second wave of cost increases’ following the surge in gas prices. Spiralling energy prices are …
Read the English version. In de recente economisch uitdagende tijden rond COVID-19 hadden maatregelen om de verspreiding van COVID-19 tegen te gaan een negatief effect op de omzetontwikkeling van ondernemers wereldwijd. Tijdens lockdown-periodes org…
As we navigate reoccurring global events and uncertain times, insurance continues to play a critical role in risk transfer — providing assurance and allowing organizations to continue business as usual. Covers like business interruption (BI), c…
All too often, we see claims where an insufficient Maximum Indemnity Period (MIP) has been set — resulting in serious consequences related to the recovery of the policyholder’s business. When the MIP — known as the time interval for insur…
On 21 February 2022, the Full Court of the Federal Court delivered the highly anticipated judgment in the appeal of the second Insurance Council of Australia (ICA) business interruption test case. In this update, we explore the impact of this decisio…
While the marine industry is not historically known for being early adopters of new equipment or processes, market needs and business circumstances have come together to highlight one innovation worth keeping an eye on: collapsible shipping container…
In most court decisions there can be surprises, and one could say that the decision of Jagot J in the Second COVID-19 Insurance Test Case had its own share of the unexpected. In reviewing the decision in the Second Test Cases, the aspects that relate…
Since the outbreak of COVID-19 in early 2020, there has been intense interest in the extent to which business interruption policies would respond to claims for business losses arising from COVID-19. In September 2020, Sedgwick published an extensive…