Insurance
Apr. 3, 2020
Restaurateurs and insurers square off over shutdown
The restaurant industry, which is the nation’s largest economic driving force, is battling insurers to recoup losses from business interruption due to shutdown orders. Who should pay and can viruses be excluded from policies?
Two California-based celebrity chefs are fighting insurers after government orders closed their restaurants.
The insurers maintain there is no coverage for pandemics as there is no physical loss or damage. The dispute will likely have courts grappling with the cause of the business interruption rather than what policyholders are limited to in compensation, according to industry experts.
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