comparemela.com

Latest Breaking News On - Factory mutual insurance company - Page 6 : comparemela.com

Insurers COVID-19 Notepad: What You Need to Know Now (Week of May 24) | All Alerts & Newsletters

May.24.2021 Courts Dismiss COVID-19 Business Interruption Claims On May 13, 2021, the district court for the Northern District of Georgia granted American Family Insurance Company’s and Midvale Indemnity Company’s motion to dismiss a COVID-19 business interruption claim filed by the operators of two barbeque restaurants. The court concluded that the plain meaning of the phrase “direct physical loss” requires that there be “actual, physical damage to the covered premises” and the plaintiffs failed to allege any change to the physical condition of property due to COVID-19 closure orders. Order at 11. The court further found that the policy’s unambiguous virus exclusion bars coverage because the plaintiffs “claim no losses that were not caused, at least indirectly, by the virus.”

Insurers COVID-19 Notepad: What You Need to Know Now (Week of May 17) | All Alerts & Newsletters

May.18.2021 Courts Dismiss COVID-19 Business Interruption Claims On May 7, 2021, the district court for the Northern District of Illinois granted Westfield National Insurance Company’s motion to dismiss a Chicago bakery and a salon’s complaint alleging coronavirus-related business interruption losses. Determining the virus exclusion unambiguously bars coverage for loss indirectly caused by the coronavirus, the court found meritless the plaintiffs’ argument that the government closure orders, rather than the virus, caused their losses. Order at 7-8. Including the virus exclusion within the policy “undercuts” any argument “that Westfield unjustifiably denied” their claims. Id. at 10. On May 10, 2021, the Circuit Court of Cook County, Illinois granted with prejudice Motorists Commercial Mutual Insurance Company’s motion to dismiss a COVID-19 business interruption claim filed by the operator of automobile dealerships and repair shops. The court found that business in

New Jersey Law Requires Insurers to State Whether Business Interruption Policies Cover Global Virus Transmission, Pandemic Coverage | White and Williams LLP

To embed, copy and paste the code into your website or blog: On May 12, 2021, New Jersey Governor Phil Murphy signed into law a bill requiring insurers to go on record as to whether their policies, which provide coverage for the loss of use and occupancy and business interruption, cover global virus transmission or pandemics. The law first requires an insurer to disclose to new and renewing insureds whether the policy provides such coverage. The Commissioner of Banking and Insurance prescribes the form and manner of providing this notice for this first provision. The law also requires any insurer who has in force such a policy to so inform its insured in writing (via mail or electronic means) within 30 days of the date of enactment.

Property Leasing: Recent Developments Of Importance - Real Estate and Construction

Can a Tenant Stop Paying Rent as a Result Of COVID-19? When the government ordered the closure of all non-essential businesses, tenants quickly turned to their leases to see if the pandemic would qualify as force majeure and discharge them from their rent obligations.  Hengyun International Investment Commerce Inc.  v.  7614 Québec Inc., 2020 QCCS 2251, ( Hengyun ) was one of the first Canadian cases to consider force majeure in the context of COVID-19 government-mandated shutdowns. It sparked hope for tenants that rent relief was possible. In  Hengyun, the Landlord and the original Tenant, VFC, entered into a five-year lease to operate a gym. VFC soon made

© 2025 Vimarsana

vimarsana © 2020. All Rights Reserved.