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Millions of people across the country are waiting to get the COVID-19 vaccine.  For businesses, immunity is sought not against the virus but against liability, and, in some cases, businesses have been successful in invoking COVID-19 as a means to do so.  Recently, the Southern District of New York held that the pandemic immunized a defendant, Phillips Auctioneers LLC, from liability under its contract with the plaintiff, JN Contemporary.  Under the terms of the contract, Phillips agreed to present a painting at an auction scheduled for May 2020 and guaranteed JN that it would receive a minimum of $5 million from the sale.  Phillips’ contractual obligations, however, were subject to the contract’s force majeure provision which read as follows:…

Private equity M&A partner Andrew Wingfield alongside associate Katie Bunce and Caroline Rowlands, head of private equity at Howden M&A, have authored an article for Reuters Westlaw discussing issues surrounding the market for warranty and indemnity insurance during the coronavirus pandemic.

M&A insurance: Changes, Impact and Opportunities for Investors Resulting from COVID-19

While most of society struggles to flatten the curve, treat the sick and restart the economy, regrettably, some bad actors have used the COVID-19 emergency as an opportunity to exploit vulnerabilities for personal gain. One of the key areas of increased exposure is cybersecurity. Companies should review their risk management and insurance arrangements now to…

On 1 May 2020, the UK Financial Conduct Authority (“FCA”) published a statement on its website about business interruption (“BI”) insurance cover in light of the current COVID-19 pandemic. The FCA confirmed that it intends to obtain a fast-tracked court declaration to resolve current contractual uncertainty in relation to the same.

The issue which the…

With most policyholders focused on recoveries from business interruption insurance, you might not think this is the time to consider your company’s D&O policy. It is. What you do now can make a difference later when it comes to securing coverage for liability claims against your company, and its officers and directors, arising from the…

In recent weeks, there has been a flood of general advice from brokers, insurance lawyers and others opining that there may – or may not – be insurance coverage for coronavirus losses under various types of insurance policies for business interruption or other losses and liabilities. What you may not know is that specific provisions…