Fearing Industry Solvency, Insurers Are Seeking to Leverage “Physical Loss or Damage” Rulings in the COVID-19 Context to Roll Back Historic Coverage Generally

When the COVID-19 Pandemic incepted, and issues arose as to whether affected policyholders could seek Business Income and Civil Authority coverage from the presence or suspected presence of SARS-CoV-2 and consequent orders of Civil Authority, I thought that the easiest question to answer was whether such policyholders had suffered physical loss or damage (“PLOD”) to their property.

The Majority PLOD Rule Prior to COVID-19

Filed under:
USA, Ohio, Insolvency & Restructuring, Insurance, Litigation, Reed Smith LLP, Coronavirus
Authors:
Richard P. Lewis
Location:
USA
Firm:
Reed Smith LLP