Pointing to a “growing national consensus” on the issue, the U.S. Court of Appeals for the Seventh Circuit has become the latest federal appeals court to hold that pandemic-related business losses do not constitute “physical loss of or damage to property” covered under business interruption insurance policies.
East Coast Entertainment of Durham, North Carolina, is in the movie theater business. The company suffered financially after the imposition of statewide closures of movie theaters caused by the rise of COVID-19, according to the appellate court’s April 12 decision.
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