The Eleventh Circuit on Thursday mostly upheld the dismissal of lawsuits lodged against certain underwriters from Lloyd's of London, Aspen Specialty Insurance Co. and other insurers by businesses seeking coverage for COVID-19 losses, saying the virus didn't cause physical damage as required by the policies.
A Pennsylvania-based oil refiner is suing the insurance broker Marsh & McLennan Agency for an alleged failure to find a policy covering business income losses in the event of a fire, according to a Monday notice removing the lawsuit to federal court.
Aspen Specialty Insurance Co. told a Nevada federal judge that a Las Vegas hotel and casino's insurer cannot force it to chip in more for the $1.4 million settlement of a personal injury suit, arguing the hotel did not suffer any damages from stalled negotiations.
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Trade Groups Urge 11th Circ. To Toss Florida Virus Suit
Law360 (July 19, 2021, 9:16 PM EDT) Two of the largest insurer trade groups in the country warned the Eleventh Circuit that overturning a COVID-19 coverage ruling in favor of Aspen Specialty Insurance Co. would threaten the solvency of the entire insurance industry, according to an amicus brief filed Friday.
The American Property Casualty Association and the National Association of Mutual Insurance Companies told the appellate court that it should uphold a Florida district court s ruling that Rococo Steak LLC of St. Petersburg, Florida, did not suffer physical loss or damage from the virus.