It could have massive implications for the industry
New York’s highest court is set to preside over a restaurant’s COVID-19 business interruption case that could have widespread ramifications for businesses and insurers in the state and further afield should the court veer away from a US-wide trend of insurer pandemic business income victories.
Oral arguments in the case, which pits restaurant group Consolidated Restaurant Operations (CRO) against Swiss Re’s Westport Insurance over whether the insurer is on the hook to pay out for business interruption losses due to closures and disruption during the COVID-19 pandemic, are set to be heard by the New York Court of Appeals on Wednesday afternoon.
CRO has sought to claim for COVID-driven closures u