A plaintiff commercial landlord leases properties to hundreds of office, retail, and restaurant tenants. The plaintiff purchased from the defendant insurance company, an insurance policy that provides up to $750 million in coverage “for property damage and business interruption losses…. (policy)”

Coverage began on March 15, 2020. “Days later, state governments across the country adopted stay-at-home orders in response to the COVID-19 pandemic.” Many of the plaintiff’s tenants had to “close shop and, unable to generate revenue, have requested abatements or other accommodations.” The plaintiff allegedly suffered “significant business interruption as a result of the pandemic.” The plaintiff alleged that “confirmed cases of COVID-19 … have required it to take action to secure and preserve those locations.” The plaintiff alleged that it had already lost “more than $20 million in rental income alone.”