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Cinemark sues insurer over COVID-related losses

Cinemark sues insurer over COVID-related losses
There have been more than 1,300 other lawsuits filed against insurers who refused to pay claims on business-interruption policies.
Cinemark said it paid $3,785,253 in premiums for a one-year, all-risk policy that expired April 20.(Irwin Thompson)
Plano-based movie theater operator Cinemark Holdings Inc. sued its insurer this week for refusing to cover $400 million in losses and legal expenses linked to the coronavirus pandemic.
The third-biggest U.S. movie theater chain claims in a complaint filed Tuesday in Texas federal court that Factory Mutual Insurance Co. adopted a strategy that was designed to limit or altogether deny Cinemark the recovery it was entitled to under its insurance contract. ....

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Investors May Get 2 Chances to Bet on Golden Nugget Casino

Author Bio
Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio.
His coverage reflects his passion for motorcycles, booze, and guns (though typically not all exercised at the same time), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. ....

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Covid-Loss Case by Restaurant Is First U.S. Test for Insurers - Article

Jef Feeley and Katherine Chiglinsky, Bloomberg News
NEW ORLEANS, LA - MARCH 16: People eat at Oceana Grill on Bourbon Street as Louisiana Governor John Bel Edwards orders bars, gyms and casinos to close until April 13th due to the spread of coronavirus (COVID-19) on March 16, 2020 in New Orleans, Louisiana. Oceana Grill is suing Lloydâs of London to cover losses caused by the government-ordered closures due to the coronavirus. The World Health Organization declared COVID-19 a global pandemic on March 11. (Photo by Chris Graythen/Getty Images)
, Photographer: Chris Graythen/Getty Images North America
(Bloomberg) The owners of a restaurant in the heart of the New Orleans French Quarter are asking a Louisiana judge to order some Lloydâs of London insurers to cover losses from the Covid-19 outbreak the first of a growing number of U.S. business-interruption claims to go to trial.The 500-seat Oceana Grill see ....

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First Coronavirus Business Interruption Trial Gets Underway

First Coronavirus Business Interruption Trial Gets Underway
The owners of a restaurant in the heart of the New Orleans French Quarter are asking a Louisiana judge to order some Lloyd’s of London insurers to cover losses from the Covid-19 outbreak the first of a growing number of U.S. business interruption claims to go to trial.
The 500-seat Oceana Grill seeks to persuade Judge Paulette Irons that its “all-risks” policy covers losses attributed to a shut-down order the government issued because of the coronavirus pandemic. The non-jury trial started Monday in state court New Orleans.
NEW ORLEANS, LA – MARCH ....

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Covid-Loss Case by Restaurant Is First U.S. Test for Insurers

Covid-Loss Case by Restaurant Is First U.S. Test for Insurers
Bloomberg
12/17/2020
Jef Feeley and Katherine Chiglinsky
(Bloomberg) The owners of a restaurant in the heart of the New Orleans French Quarter are asking a Louisiana judge to order some Lloyd’s of London insurers to cover losses from the Covid-19 outbreak the first of a growing number of U.S. business-interruption claims to go to trial.
The 500-seat Oceana Grill seeks to persuade Judge Paulette Irons that its “all-risks” policy covers losses attributed to a shut-down order the government issued because of the coronavirus pandemic. The non-jury trial started Monday in state court New Orleans. ....

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