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In New York and elsewhere, however, insurance coverage is not determined based on a scoreboard, It is based on the words and phrases actually used by the parties. Here, the insurer chose all of the words and phrases.
Allegations That COVID-19 Was Physically Present and Altered Property are Sufficient to Sustain COVID-19 Business Interruption Suit Thursday, May 6, 2021 On Wednesday, a federal judge in Texas denied Factory Mutual’s Rule 12(c) motion for judgment on the pleadings, finding that the plaintiffs adequately alleged that the presence of COVID-19 on their property caused covered physical loss or damage in the case of Cinemark Holdings, Inc. v. Factory Mutual Insurance Co., No. 4:21-CV-00011 (E.D. Tex. May 5, 2021). This is the third COVID-19-related business interruption decision fro...
To embed, copy and paste the code into your website or blog: Responding to the Texas Winter Storm Crisis: Issue 2—Winter storms and wide-area events like the one that recently devastated Texas leave behind challenging questions about business interruption insurance coverage. TAKEAWAYS Property insurance policies with business interruption coverage and case law require close inspection to determine the proper method for measuring business interruption claims following wide-area impact catastrophes. Quantifying a policyholder’s business interruption loss is a contentious issue in the wake o...