The plaintiffs, Stant USA Corporation, Stant Foreign Holding Corporation, and Vapor US Holding Corporation (collectively “Stant”), filed suit seeking a declaratory judgment that they were entitled to recover under a commercial insurance policy issued by the defendant Factory Mutual Insurance Company (“FM”).
Continuing a trend in Indiana courts, the 7th Circuit Court of Appeals has once again ruled that COVID-related business closures do not qualify as “physical losses” eligible for insurance coverage.