Category: Business Insurance Claims

Business Insurance Claims

UPDATED IRS Extends Filing Deadlines for Taxpayers in Federally Declared Disaster Areas by Michael Hirsch, JD, LLM


Posted on September 10, 2021 by Michael Hirsch

The summer of 2021 has been marked by a significant number of natural disasters, both in the U.S. and around the world. Domestically, the IRS continues to grant tax-filing and -payment relief to taxpayers located in federally declared disaster areas, including those impacted by the California Wildfires and Hurricane Ida. Who is an Impacted Affected […]

What is Representations and Warranties Insurance? by Daniel S. Hughes, CPA/CFF, CGMA, CVA


Posted on August 31, 2021 by Daniel Hughes

Representations and warranties insurance (RWI) is becoming an increasingly common and required tool to expedite M&A transactions, bridge gaps in deal negotiations and reduce buyers’ and sellers’ risks of financial losses after deals close. At the most basic level, representations are the assertions sellers make about their companies, those entities’ financial positions and past and […]

Suez Canal No Longer Blocked, But Are Damages Incurred from Supply Chain Disruptions Recoverable? by Richard Fechter, JD, CAMS, CFE


Posted on April 15, 2021 by Richard Fechter

The 1,312-foot Ever Given container ship wedged across the Suez Canal for six days in late March upended global trade and created a bottleneck of nearly 400 vessels unable to meet their contractual delivery obligations. Today, even as ships pass freely through the critical waterway that carries 12 percent of the world’s trade volume, businesses […]

Companies Gain Legal Ground in COVID-Related Business Interruption Insurance Claims by Daniel Hughes, CPA/CFF, CGMA, CVA


Posted on December 22, 2020 by Daniel Hughes

It has been nine months since millions of businesses were forced to shut down due to COVID-19 only to learn that their insurers would not payout claims for business interruption losses. While the courts have dismissed a significant number of legal actions filed by policyholders against insurers for breach of contract, it appears the tides […]

The Latest on Catastrophic Business Losses and Business Insurance Claims by Dan Hughes, CPA/CFE, CGMA, CVA


Posted on April 15, 2020 by Daniel Hughes

Relief may be coming to the millions of business owners who now realize that the insurance policies they have been paying into for many years will not reimburse them for any of the catastrophic business-interruption losses they sustained due to the COVID-19 pandemic. Already, several states have introduced bills requiring insurers to retroactively cover and […]

Congress Passed COVID-19 Economic Stimulus Package, Expands Assistance for Businesses by Edward N. Cooper, CPA


Posted on March 30, 2020 by Edward Cooper

As the number of COVID-19 cases in the U.S. continues to increase, Congress on March 27 approved its third stimulus package to provide more than $2 trillion in much-needed financial relief to U.S. businesses and families. Following is a brief overview of some of the business-friendly provisions included in the Coronavirus Aid, Relief, and Economic […]

Is Your Business Protected Against Coronavirus-Related Losses? by Daniel S. Hughes, CPA/CFF/CGMA, CVA


Posted on March 16, 2020 by Daniel Hughes

The novel coronavirus (COVID-19) is having a profound impact on lives, businesses and commerce across the globe. As the disease continues to spread, countries have closed their borders, financial markets have fallen, supply chains have become disrupted and businesses are facing the potential of mounting losses that may continue for some time. The longer it […]

Hurricane Dorian – It’s Not too Late for Businesses to Plan Ahead for Storms by Daniel Hughes, CPA


Posted on August 29, 2019 by Daniel Hughes

As Hurricane Dorian menaces the Florida coast,  it is not too late for businesses to prepare for the threat of a potential disaster that can interrupt normal businesses operations and cause millions of dollars in damages and lost revenue. Following are just a few things that businesses should consider as part of a well-thought-out disaster-preparedness […]