Law360 Quotes Kotula on Coverage for Event Cancellations Due to Iran War

Michael Kotula was interviewed for the Law360 Insurance Authority article, “Iran War Poses Coverage Challenges For Event Organizers.”

Earlier this month, Formula 1 races scheduled for April in Bahrain and Saudia Arabia were cancelled due to concerns about the Middle East conflict. Other event cancellations are expected to follow.

Since insurance policies typically contain war exclusions, insurers will likely be off the hook for the large costs associated with the cancellations, the article noted.

“The Iran military is firing missiles, and so it’s state action — it clearly falls within the war exclusion,” Michael said. “I understand that insurers advised there would be no war cover in the region and coverage is barred under insurance policies because of the war exclusion.”