Further more, not shooting a particular genre of photography simply because you fear the worst case scenario is just plain dim. Head-in-sand photographer me thinks?
You have, in your wedding contract, clauses that abmolish the photographer from such daft scenarios, failure in equipment, death and so forth. You also agree in advance at what time you are likely to finish / go home. You never leave a paid job without first clearing it with both the bride and the groom, to whom you would say goodnight to anyhow.
The studio must have known this, so more fool them. They should / will also have legal cover. This is one sore, unhappy man to be taking the studio to court. One assumes they have limited liability, so if all else fails, close the company and re-open under another name.
Only in America!