Government
Push to Consolidate COVID-19 Business Loss Suits Denied; Insurer-Based Grouping Eyed Instead
The legal panel on multidistrict litigation (MDL) has denied a proposal to consolidate cases brought by multiple businesses against various insurers for coronavirus-related business losses. At the ...
Britain Train Crash Is Worst in 15 Years; 3 People Dead
Britain suffered its worst train crash in more than 15 years after a derailment in Scotland killed three people, including the driver, and left another six injured. The Scotrail service was traveling ...
Missouri Judge Rules Business Owners Can Sue Carrier Over Coronavirus Losses
A federal judge in Missouri said on Wednesday a group of hair salons and restaurants can sue their insurance carrier for business interruption losses caused by the coronavirus pandemic, which they ...
McConnell’s Push for Coronavirus Liability Shield Reaches Crucial Phase
Senate Majority Leader Mitch McConnell's insistence that legal liability protections for businesses, schools and colleges be included in any new coronavirus relief bill is approaching a moment of ...
Companies Risk Substantial Loss of Annual Profit Due to Supply Chain Shocks
Companies risk losing more than 40% of annual profit once a decade in a world threatened by trade wars, cyber attacks, pandemics and climate change, according to McKinsey & Co., which estimates ...
Mortgage Default Risk Set to Rise With Hurricane Risk
The 2020 Atlantic hurricane season is forecast to be among the worst. And that has Maryland Smith's Clifford Rossi taking a close look at the potential financial risks. Rossi, professor of the ...
Facing Billions in Damages, VW Asks Court to Reconsider Ruling
Volkswagen AG's wholly owned U.S. subsidiary on Thursday asked the Ninth Circuit U.S. Court of Appeals to reconsider a ruling that said two counties could seek financial penalties over excess diesel ...
COVID BI Coverage Suits Top 700; Yep, That’s A Lot
When insurance coverage lawsuits brought by businesses seeking coverage for COVID-related interruptions surpassed the 700 mark last week, the natural question to ask was: Is that a lot? That's ...