MS Amlin said Monday’s judgment on the 1 billion pound ($1.13 billion) lawsuit against three top insurers over coronavirus losses shows that insurers had won key parts of a complex legal battle with British pubs group Stonegate. After Britain’s markets watchdog won a test case against the insurers, insurers have already paid out more than… Continue reading Insurers Win Key Aspects in Legal Battle in COVID-19 BI Case with UK Pubs Group
Tag: COVID business interruption
Massachusetts State Supreme Court First to Reject Insurance for COVID Business Losses
The Massachusetts Supreme Court became the first in the country on Thursday to rule on whether businesses can recoup losses caused by COVID-19 through insurance policies, ruling that three restaurants could not. The Massachusetts Supreme Judicial Court unanimously ruled that the restaurants could not recover for lost revenue after the pandemic began in early 2020… Continue reading Massachusetts State Supreme Court First to Reject Insurance for COVID Business Losses
Beazley Says LA Fitness’ Virus Losses Aren’t Fit for Coverage
LA Fitness can’t exercise any of its $100 million in coverage for business interruption losses at its 700 gyms, a U.K. insurer says in a California federal suit, saying the gym chain suffered no “direct physical loss of or damage” caused by the COVID-19 pandemic and government shutdown orders. Beazley Underwriting Ltd., which insured the… Continue reading Beazley Says LA Fitness’ Virus Losses Aren’t Fit for Coverage
Rare Small-Business Win in Insurer Lawsuits Keeps Hope Alive for BI Payouts
Chef Matthew Kelly is one of the few restaurateurs who has fought property insurers over pandemic business restrictions and won. His establishments are part of a group of restaurants that a North Carolina state court sided with this fall. The insurer has appealed the decision, which found the plaintiffs were entitled to payouts under business-interruption… Continue reading Rare Small-Business Win in Insurer Lawsuits Keeps Hope Alive for BI Payouts