When, in addition to damage, injury and even death, a catastrophe ravages a regional economy, should that be taken into account when valuing the business loss claims brought by a policyholder? The UK Supreme Court recently came down on the issue in a test case based on a batch of different company policies giving some hope to policyholders. What impact will it have on COVID business interruption claims in the U.S.? How will it impact the valuation of claims for other catastrophic events like hurricanes, wildfires, and earthquakes?
To discuss these issues, it was my pleasure to interview attorney Peter A. Halprin, a partner in the New York office of Pasich LLP and Christopher Mortifoglio of Procor Solutions, also in New York. Peter represents commercial policyholders in complex coverage matters ranging from data security events to natural disasters to COVID. Chris is both a certified public accountant and forensic examiner, with experience valuing claims in the wake of hurricanes Sandy and Alex, and the BP Deepwater Horizon Oil Spill.
This podcast is the audio companion to the Journal on Emerging Issues in Litigation, a collaborative project between HB and the Fastcase legal research family, which includes Full Court Press, Law Street Media, Docket Alarm and, most recently, Judicata. If you have comments or wish to participate in one our projects, or want to tell me how insightful and informative Peter and Chris are, please drop me a note at Editor@LitigationConferences.com.
I hope you enjoy the interview, and how I suggested that Peter may be old enough to tell us about his experience with losses incurred by merchants sailing wooden ships during the vibrant spice trade of the 1400s.