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In San Jose Sharks, LLC v. Superior Court, 98 Cal.App.5th 158 (December 21, 2023), the California Sixth District Court of Appeal found that the San Jose Sharks, LLC's...
New Jersey's Supreme Court ruled Wednesday that an Atlantic City casino is not entitled to payouts from business interruption insurance for losses during the COVID-19 outbreak, determining that the presence of the virus did not constitute the kind of “direct physical loss or damage” required for such a payout. The case involved the Ocean Casino Resort's claims against three insurance companies — AIG Specialty Insurance Co., American Guarantee & Liability Insurance Co. and Interstate Fire & Casualty Co. Those insurers largely denied payouts to the casin...
This article delves into the intricacies of the dematerialization mandate issued by the MCA by the Amended PAS Rules, outlined in a Notification dated October 27, 2023, as applicable to wholly owned subsidiaries (WOS).
New Jersey's Supreme Court is expected to consider whether an Atlantic City casino can get payouts from business interruption insurance for losses during the COVID-19 outbreak, potentially providing guidance for policyholders nationwide regarding the scope of coverage for pandemic-related losses. The state's high court is scheduled to hear arguments Wednesday in a case brought by the owners of the Ocean Casino Resort, which had $50 million in business interruption insurance before the 2020 virus outbreak. Three insurers — AIG Specialty Insurance Co., American Guarantee &...
The Environmental Protection Agency (EPA) in arguing against the need for an unlimited parent company guarantee submitted an unsigned insurance policy to the High Court on January 23, 2023, that would expire a week later.