ACC NCR Summer Series: Multi-Faceted Time Element Loss Events:  Identifying and Measuring the Loss

Time element losses often go hand-in-hand with significant physical loss or damage events.  Time element losses also can result from novel events such as the current COVID-19 pandemic.  Regardless of the predicate physical loss or damage event, however, planning for and quantifying time element losses can be varied and challenging.  This is especially true when claims involve multiple components of covered loss, such as interruption of the insured’s own operations due to physical loss or damage; interruption to the normal operations of the insured’s suppliers or customers; interruption due to orders from civil authorities and interruptions due to an inability to ingress or egress from the insured premises.  

This program will address the time element losses that are likely to arise from novel loss events like the COVID-19 pandemic and other loss events affecting multiple aspects of insured operations.  Our panel will address the coverage and loss valuation issues based on policy wording, their experience with pending COVID-19 claims and their experience with other broad-scale loss events like the 9/11 terrorist attacks, where companies were forced to file suit to recover multi-faceted time element losses under a variety of physical loss or damage scenarios.

Presented by Michael S. Levine, Partner at Hunton Andrews Kurth, LLP, John DiCalogero, Asst. General Counsel at HMSHost and Steven Wolf, Principal at Wolf Forensics.

Moderated by Latosha Ellis, Associate at Hunton Andrews Kurth, LLP.

1.0  hours of VA MCLE credit pending.