X
    X
    X
    X

    California Requests Insurance Data On Business Interruption Coverages

    Publications

    On March 26th, Commissioner Ricardo Lara issued a data survey (the “Survey”) to all admitted and non-admitted insurance companies, requesting information on business interruption and related coverages provided by commercial insurance policies. Responses to the Commissioner’s request are not mandatory.  Although responses are not mandatory, a Survey FAQ issued with the Survey states, “the Commissioner has the authority to issue subpoenas and subpoenas duces tecum for witnesses to attend, testify and produce documents before him, on any subject touching insurance business, or in aid of his duties.”

    The Survey states, “each Insurer should provide to [ the California Department of Insurance (the “Department”)] the volume of business interruption coverage, civil authority coverage, contingent business interruption coverage, and supply chain coverage the Insurer wrote that has not lapsed as of [March 26th], which should be expressed in policy types and numbers of policies written of each type.”  The Survey continues, “[f]or the coverages identified above, each insurer should provide information on the following questions:

    1. How many policies are covered under each coverage identified above?
    2. Out of these policies, how many policies fall under businesses with more than 500 employees, or alternatively, meet your definition of large business?
    3. Out of these policies, how many policies fall under businesses with less than 500 employees, or alternatively, meet your definition of medium size business?
    4. Out of those with less than 500 employees, how many policies fall under businesses with less than 100 employees, or alternatively, meet your definition of small business?”

    Responses to the Survey should be provided by April 9th, 2020, on the excel spreadsheet provided by the Department. The Department will maintain individual insurer’s submissions as non-public information and will not release them to the public.

    Locke Lord will continue to monitor these matters.

    Visit our COVID-19 Resource Center often for up-to-date information to help you stay informed of the legal issues related to COVID-19.

    The post California Requests Insurance Data On Business Interruption Coverages appeared first on Insurance & Reinsurance.

    Explore Additional Topics

    Disclaimer

    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.