Commercial Landlord Wins First Business Interruption COVID-19 Case in New York

Commercial Landlord Wins First Business Interruption COVID-19 Case in New York

An ambiguous Contamination Exclusion resulted in the denial of an insurer’s request to dismiss a COVID-19 coverage case in a New York federal court. Thor Equities, LLC, (Thor) purchased an insurance policy from Factory Mutual Insurance Company days before COVID-19 stay-at-home orders shut down the country. The insurance policy covered Thor’s commercial rental property across the country. Thor gave its insurer prompt notice for its coronavirus losses which resulted from his tenets being unable to generate revenue. The company filed a claim based on the business interruption portion of the policy. Read more about the case here.