Hunton Insurance Recovery Blog

In today’s unpredictable world, the need for event cancellation insurance has never been more evident. Whether it’s a high-profile concert by a global superstar like Taylor Swift, an international sporting event like the Olympics, or the start of a much-anticipated football season, the potential for disruption looms large. Terrorism threats and extreme weather events due to the broad impacts of climate change contribute to the growing risks faced by event organizers, artists, and venues. Event cancellation insurance offers a critical safety net in the face of some of these uncertainties.

The RISKWORLD 2023 Annual Conference in Atlanta is just around the corner! Visit members of the Hunton Andrews Kurth LLP Insurance Coverage team at Booth 2040 to learn more about how our insurance recovery team helps clients obtain insurance recoveries and advise on the negotiation and procurement of policies and the presentation of claims.

In addition, partners Andrea DeField and Michael Levine, special counsel Lara Cassidy and counsel Kevin Small will be presenting on current and emerging insurance topics during the conference. Please see below for information about each session.

We hope to see you in Atlanta!

The ongoing Covid-19 pandemic and supply chain issues have caused several major event organizers to cancel or postpone concerts, sporting events, and awards shows, among many other large-scale events. For example, this week, Elton John postponed tour concerts after testing positive for Covid-19; last week, Adele put on hold her much-anticipated Las Vegas residency over “delivery delays” and Covid-19 diagnoses among her team; last month, the NHL, NBA, and the NFL rescheduled major games, with the NHL citing concerns about “the fluid nature of federal travel restrictions,” and the NFL citing “medical advice” after “seeing a new, highly transmissible form of the virus;” and the Grammys postponed its January 31 awards show in Los Angeles—to now take place on April 3 in Las Vegas. The cancellations and postponements of these types of events often have major financial effects on its organizers and producers. Given the risk of substantial losses following the cancellation of big-ticket events, businesses should be aware that they can tap into event cancellation insurance to mitigate and protect against these risks.

In a prior post, we predicted that novel coronavirus (COVID-19) risks could implicate D&O and similar management liability coverage arising from so-called “event-driven” litigation, a new kind of securities class action that relies on specific adverse events, rather than fraudulent financial disclosures or accounting issues, as the catalyst for targeting both companies and their directors and officers for the resulting drop in stock price. It appears that ship has sailed, so to speak, as Kevin LaCroix at D&O Diary reported over the weekend that a plaintiff shareholder had filed a securities class action lawsuit against Norwegian Cruise Line Holdings, Ltd. alleging that the company employed misleading sales tactics related to the outbreak.

The members of Hunton’s Insurance Recovery group present regularly on today’s hot topic insurance coverage issues. Upcoming insurance presentations for March 2020 include:

• Andrea DeField will be presenting on “Ensuring Insurance Coverage Success in Litigation: Tips and Best Practices for Young Lawyers” at the ABA’s Insurance Coverage Litigation Committee CLE Seminar in Tucson, Arizona on Wednesday, March 4, 2020.
• Lorelie S. Masters will be presenting on “The Restatement of the Law of Liability Insurance in the Courts” at the ABA’s Insurance Coverage ...

The members of Hunton’s Insurance Recovery group present regularly on today’s hot topic insurance coverage issues. Upcoming insurance presentations for February 2020 include:

• Lorelie S. Masters will be moderating an ABA Section of Litigation webinar on “The Haze: Key Legal Issues For Cannabis Businesses” on February 6, 2020. This webinar was organized by Latosha M. Ellis.
• Kevin V. Small will be presenting on “Hot Topics in Representations and Warranties Insurance” at the NJSBA’s Insurance Law Section CLE Dinner Meeting  in New Brunswick, New Jersey on February ...

The members of Hunton’s Insurance Recovery group present regularly on today’s hot topic insurance coverage issues. Upcoming insurance presentations for January 2020 include:

• Latosha M. Ellis will be a panelist on an ABA Section of Litigation webinar on “The Vaping Injury Crisis: Products Liability & Insurance Coverage Issues for Nicotine and Cannabis Industries” on January 9, 2020.
• Walter J. Andrews and Andrea DeField will be presenting an Enquiron webinar on “Cyber Insurance:  A Year In Review: What did we see in 2019 and what does that tell us about what to expect in ...

The members of Hunton’s Insurance Recovery group present regularly on today’s hot topic insurance coverage issues. Upcoming insurance presentations for November 2019 include:

• Walter J. Andrews will be presenting on Experts and Their Role in Bad Faith Litigation at the 2019 Insurance Law Symposium at Nova Southeastern University in Davie, Florida on November 1, 2019.
• John C. Eichman will be presenting on Pursuing the Insured’s Claim at the ABA’s 2019 Fidelity & Surety Law Fall Conference in Boston, Massachusetts on November 7, 2019.
• Syed S. Ahmad will be presenting with ...

Recent headlines underscore the security challenges faced by public-facing businesses. From physical threats to cyber attacks targeting a wide range of critical infrastructure, companies in diverse sectors, such as the financial, retail, entertainment, energy, transportation, real estate, communications and other areas, face a challenging landscape of risks and potential liabilities. Join us on October 28, 2019, at 12:00 p.m. EST, for a webinar to discuss these issues, including why companies should consider SAFETY Act protection and how to obtain it.

Hunton Insurance Coverage practice partner Michael Levine will be speaking in an upcoming Strafford live webinar, "Depreciation of Labor in Property Insurance Claims: Guidance From Recent Cases," scheduled for Wednesday, October 30, 1:00pm-2:30pm EDT.

Recap of Hunton Insurance Recovery Group presentations in August and September 2019 focusing on key risk management techniques and strategies for maximizing recoveries under corporate insurance policies and enforcing indemnity rights under technology, sales, services, outsourcing, and other commercial contracts:

• John Eichman and Sergio F. Oehninger presented a seminar on Electronic Crime – Insurance Coverage for Cyber Attacks and Computer Fraud, Independent Community Bankers of America Webinar Series, September 24, 2019.
• Sergio F. Oehninger presented seminars on ...