US Market: Covid BI Case is a Win For Insurer

A jury ruled in favor of Cincinnati Insurance Co Inc. last week, in the first jury trial concerning a pandemic-related business interruption claim.The Missouri jury determined that Cincinnati does not have to pay to cover losses incurred by Kansas City-based restaurant K.C. Hopps. The lions share of cases brought against insurers on similar grounds have been dismissed: 73% in the case of cases brought in state court and 93% in federal court. Last week’s ruling shows that even in the rare cases where a case is allowed to proceed, the clarity of the physical damage requirements or virus exclusions present in business interruption insurance contracts mean these contracts do not cover losses incurred as a result of COVID-19.

More details on the various Business Interruption court cases here, at the FAIR website.

About alastair walker 11354 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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