Insurance Recovery Alert | September.06.2017
Orrick’s insurance practice, led by Barry Levin, Steve Foresta, and Darren Teshima, has extensive experience handling post-disaster claims for policyholders and can help you advise your clients on recovery of their Harvey-related losses. We have assisted companies seeking insurance recovery for property damage and lost profits resulting from business interruption due to flooding and other disasters, supply chain impacts and electrical and computer network failures, even when there is no physical damage to the insured’s property. A client’s commercial property policy typically provides coverage for both property damage and lost profits, also known as business income/business interruption coverage. The policy often also provides coverage for “extra expense,” which is loss incurred by the policyholder to maintain business operations, and for trade disruption/ contingent business interruption, which is lost profits resulting from interruption to the operations of third parties in a client’s supply and distribution chain including both upstream and downstream business partners.
We have recovered billions of dollars from insurance companies for policyholders, most often through negotiation and, when necessary, through litigation. Our team knows the insurance business from every angle, and can help you with every kind of claim, from general liability, D&O, E&O and cyber. We leverage that vast expertise to address the cutting-edge coverage issues facing policyholders today: cyber and data breach coverage; the unique business risks facing high-growth technology companies; and some of the most complex insurance disputes in the financial services area.