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Hotel business based in NH sues insurance company over claim of pandemic losses going unpaid Share Updated: 7:08 PM EDT Apr 5, 2021 Share Updated: 7:08 PM EDT Apr 5, 2021
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Show Transcript HASN’T LIVED UP TO ITS PROMISE. MIKE: NEW HAMPSHIRE BUSINESSMAN MARK STEBBINS SAYS THE PANDEMIC HAS CAUSED TENS OF MILLIONS OF DOLLARS IN LOST REVENUE FOR HIS HOTELS SPANNING FROM NEW HAMPSHIRE TO NEW JERSE WHEN HE FILED A CLAIM, HE FELT CONFIDENT HIS BUSINESS INTERRUPTION INSURANCE WOULD FILL THE GAP. IN THIS CASE, I NEVER NEEDED IT MORE. MIKE HOWEVER, AFTER PAYING UPWARDS OF $1.5 MILLION A YEAR FOR HIS POLICY, STEBBINS CLAIM WAS DENIED. THEY ARE SAYING, IT HASN’T DAMAGED YOUR PROPERTY. WE ARE SAYING IT HAS DAMAGED OUR PROPERTY. MIKE: ACCORDING TO THE LAWSUIT THE INSURANCE COMPANY ARGUES, THERE NEEDS TO BE LOSS OR DAMAGE TO PROPERTY THAT PREVENTS CUSTOMERS FROM RECEIVING THE HOTELS’ GOODS OR SERVICES. THE HOTELS SAY DURING THE PANDEMIC, T
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Hotel group sues insurers
Published: 4/6/2021 6:06:41 PM
A group of 23 hotels – including four in New Hampshire – is suing their insurance companies, claiming that they were refused coverage for their pandemic losses even though they were not excluded by their coverage.
The group, led by New Hampshire-based Schleicher and Stebbins Hotels (S&S), a hotel management company, filed the suit in June in Merrimack County Superior Court. The first hearing was held on the matter last Thursday in what promises to be lengthy litigation.
The suit – one of a thousand suits filed around the country by the hospitality industry against insurers – appears to be the first in New Hampshire. Many have failed because most policies – 83% – specifically exclude coverage under a pandemic, but the policies in this case don’t have those exclusions, says S&S, and the losses should be covered.
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