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First Party Property/Business Interruption
Covington has a leading national practice helping policyholders identify and maximize insurance coverage under a variety of "first party" coverages, including business interruption, property damage, and event cancellation policies, among others.
The range of our practice mirrors the variety of contexts in which first-party claims can and do arise. We have assisted or are currently assisting clients with claims following hurricanes (including Hurricane Katrina) and other natural disasters. We have helped with claims for losses caused by other perils including terrorism (9/11), dam failure, product contamination, and boiler explosion, to name but a few. These claims have arisen in states across the country as well as overseas. We have litigated or advised clients with respect to numerous first-party coverage issues, including the meaning of "property damage"; the extent of coverage available when damage or loss is concurrently caused by covered and excluded perils; the scope of the contamination exclusion that is contained in most property and business interruption policy forms; and the measure of business interruption damages.
In each case, we work closely with the client to develop a strategic approach designed to maximize the recovery. We can help a client from the earliest stages of assessing, valuing, and presenting a claim to its insurers all the way through resolution, including if necessary, arbitration or litigation.
Representative Matters
- Representation of national hotel company in litigation over coverage for property damage and business income losses caused by Hurricane Katrina.
- Advice to other large and medium-sized businesses regarding coverage for losses sustained in Hurricane Katrina.
- Representation of American Express in connection with claims for coverage for losses arising out of the terrorist attacks on September 11, 2001.
- Representation of a major consumer products company in a dispute with its insurer over coverage for losses sustained in an overseas earthquake.
- Representation of Kansas City Power & Light Company in litigation over coverage for property damage caused by a boiler explosion.
- Representation of a major railroad in negotiating settlement of large claims for property damage and time element losses caused by massive river flooding.
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