Hotel business based in NH sues insurance company over claim of pandemic losses going unpaid Share Updated: 7:08 PM EDT Apr 5, 2021 Share Updated: 7:08 PM EDT Apr 5, 2021
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Show Transcript HASN’T LIVED UP TO ITS PROMISE. MIKE: NEW HAMPSHIRE BUSINESSMAN MARK STEBBINS SAYS THE PANDEMIC HAS CAUSED TENS OF MILLIONS OF DOLLARS IN LOST REVENUE FOR HIS HOTELS SPANNING FROM NEW HAMPSHIRE TO NEW JERSE WHEN HE FILED A CLAIM, HE FELT CONFIDENT HIS BUSINESS INTERRUPTION INSURANCE WOULD FILL THE GAP. IN THIS CASE, I NEVER NEEDED IT MORE. MIKE HOWEVER, AFTER PAYING UPWARDS OF $1.5 MILLION A YEAR FOR HIS POLICY, STEBBINS CLAIM WAS DENIED. THEY ARE SAYING, IT HASN’T DAMAGED YOUR PROPERTY. WE ARE SAYING IT HAS DAMAGED OUR PROPERTY. MIKE: ACCORDING TO THE LAWSUIT THE INSURANCE COMPANY ARGUES, THERE NEEDS TO BE LOSS OR DAMAGE TO PROPERTY THAT PREVENTS CUSTOMERS FROM RECEIVING THE HOTELS’ GOODS OR SERVICES. THE HOTELS SAY DURING THE PANDEMIC, T