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Mar.15.2021 Courts Dismiss COVID-19 Business Interruption Claims On March 8, 2021, the district court for the Southern District of California granted Travelers Property Casualty Company of America’s motion to dismiss a flower importer and distributor’s COVID-19 extra expense claim. The court found that the policy’s Acts or Decisions Exclusion which “bars coverage for property damage, loss, and expense that is caused by or results from any decision, act or failure to act or decide, by…any ‘governmental body,’” unambiguously excluded coverage. See Order at 13. Because Travelers based its denial of coverage on the applicable exclusion, the court similarly dismissed the plaintiff’s breach of implied covenant of good faith and fair dealing claim. ....
Press release content from Business Wire. The AP news staff was not involved in its creation. AM Best Revises Outlooks to Stable for Argo Group International Holdings, Ltd. and Its Subsidiaries; Affirms Credit Ratings March 12, 2021 GMT OLDWICK, N.J. (BUSINESS WIRE) Mar 12, 2021 AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Argo Re Ltd. (Argo Re) (Pembroke, Bermuda) and its subsidiaries. AM Best also has revised the outlooks to stable from negative and affirmed the Long-Term ICR of “bbb-” and the Long-Term Issue Credit Ratings (Long-Term IR) of the parent, Argo Group International Holdings, Ltd. (Argo Group) (Pembroke, Bermuda) [NYSE: ARGO]. Additionally, AM Best has revised the outlooks to stable from negative and affirmed the Long-Term ICR of “bbb-” and the Long-Term IR of Argo Group US, Inc. (Argo US) (head ....