Ceasars’ Argues Pandemic Causes Physical Damage<\/strong><\/h2>\nTypically, insurers are arguing that claimants need to show their business and properties have suffered actual physical damage from the pandemic. And courts are ruling that the temporary closure of a property doesn\u2019t cause physical damage in the way that a fire or a hurricane would.<\/p>\n
Caesars argues that the disruption to its business caused by the pandemic does constitute physical damage.<\/p>\n
\u201cThis risk [from pandemics] was covered and not excluded in the All-Risk Policies at issue,\u201d Caesars argued in the lawsuit, but it acknowledged that the odds may be stacked against it.<\/p>\n","protected":false},"excerpt":{"rendered":"
Caesars Entertainment is suing a group of insurance firms for $2 billion for, in its opinion, welching on a bet. In a note to the SEC Monday, the US casino giant says insurers have refused to pay out on an estimated $2 billion in losses caused by the coronavirus pandemic. This, despite Caesars having paid […]<\/p>\n","protected":false},"author":36,"featured_media":168214,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\n
Caesars Sues Insurance Firms for $2 Billion for Nixing COVID Payout<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n