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Thor Equities LLC v. Factory Mut. Ins. Co.

Covid-19 Does Not Constitute Physical Loss or Damage; Insurer Not Required to Pay

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MEMORANDUM OPINION Plaintiff, Thor Equities, LLC (“Thor”), brings this action against Defendant, Factory Mutual Insurance Company (“FM”), seeking damages and a judgment declaring that FM is required to pay Thor for losses arising from the COVID-19 pandemic pursuant to its property insurance policy. Compl., ECF No. 1. On November 10, 2022, Thor moved for partial summary judgment and FM moved for summary judgment. ECF Nos. 150, 152. On September 29, 2023, the Court granted FM’s motion, and denied Thor’s as moot. ECF No. 174. This memorandum opinion sets forth the reasons for the Court’s rulings in the September 29, 2023 order. BACKGROUND¹ Thor, a New York-headquartered commercial landlord, rents properties across the country to hundreds of tenants for use in a variety of businesses, including office space, retail stores, restaurants, and bars. FM 56.1

3-6, ECF No. 168. FM is an insurance company with its principal place of business in Rhode Island. Id.

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