Insurers Deny Covid Business Interruption Claims
August 28, 2020
In one recent case, Life Time Inc. sued insurance company Zurich over alleged failure to pay all but “a measly quarter of 1% (0.28%)” of a policy’s limit.” The complaint maintains the company is entitled to coverage for 150 fitness centers nationwide, with $1 million in coverage for each location, but Zurich maintains there is $1 million limit for all the claims combined. Hundreds of coverage lawsuits have been filed in the face of the Covid pandemic and consequent business shutdowns, reports Bloomberg Law. A key point of dispute in many of these suits is whether or not what has occurred constitutes physical property damage.
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