Insurance
Jan. 24, 2023
See's makes novel claim for interruption coverage
“See’s Candies primarily seeks coverage under a provision that appears not to have been addressed by any court or even raised by any litigant. That is because See’s Candies manufactures and sells unique, perishable products that have a limited shelf life; it secured unique ‘stock throughput’ coverage specifically designed to cover losses to its unique, perishable products,” said the complaint filed by Munger, Tolles & Olson LLP.
See’s Candies is suing two insurance companies over their refusal to compensate the sweets manufacturer for tens of millions of dollars it lost when it was forced to close its retail stores during the pandemic. Unlike other business interruption claims that have been dismissed in lower courts, See’s is making a stock throughput case.
The 132-page complaint says it is unique in a key area despite similarities to thousands of other cases in ...
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