Posted on Jan 21, 2022 in
Insurance |
Comments Off on No Direct Physical Loss or Damage, No Coverage: All-Risk Policy Does Not Cover Lost Profits Due to COVID-19 Government Restrictions
The Eleventh Circuit held that an insured’s policy did not cover the lost profits it suffered as a result of government restrictions implemented in response to the COVID-19 pandemic because the policy only covered “direct physical loss or damage.” Ascent Hospitality Management Co. v. Employers Insurance Co. of Wasau, 2022 U.S. App. LEXIS 1161 (11th Cir. Jan. 14, 2022), follows just a...