The Nevada Supreme Court is considering whether to kill a Las Vegas mall's case against its insurer over whether it's owed for pandemic-related losses, according to a series of filings in the high court, including an insurance industry group's plea to end the suit before a jury hears it.
To embed, copy and paste the code into your website or blog:
COVID-19 has certainly been a devastating and disrupting force for businesses in 2020. Since the pandemic began, a major point of contention between corporate policyholders and insurers is whether these disruptions rise to “business interruptions” as defined under insurance policies offering business interruption (BI) coverage. Companies often purchase BI coverage as part of traditional “all-risk” commercial property policies., and the coverage is generally designed to cover lost income (often in the form of reduced gross earnings) arising from disruptions to an insured’s business operations. This update serves as a brief summary of how coronavirus-related BI coverage litigation has panned out thus far.