By Caleb Drickey (Oct 22, 2021, 6:17 p.m. EDT) – Westport Insurance Co. was not responsible for the $ 11 million loss in rental income caused by COVID-19 business closures, a New York Federal Judge.
U.S. District Judge Jesse M. Furman filed a breach of contract lawsuit by business owner and Spirit Realty Capital real estate investment trust against its insurer, arguing that the REIT’s losses were not caused by damage physical and were not covered by property insurance policies.
“Spirit does not plausibly allege that the presence of the COVID-19 virus in air and on surfaces constitutes direct physical loss or damage to insured property,” Justice Furman said.
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