Attorneys for Ocean Casino Resort presented their case this week before the New Jersey Supreme Court, arguing that the Atlantic City establishment should be qualified for insurance compensation resulting from the COVID-19 outbreak.
In the event that the resort's activities were disrupted, Ocean Casino, doing business as "AC Ocean Walk, LLC," maintained property insurance coverage to cover losses. But because of claims that Ocean Casino didn't sustain any physical harm as a result of the coronavirus, the three insurers of those policies—AIG Specialty Insurance, American Guarantee & Liability Insurance Co., and Interstate Fire & Casualty Co.—have declined to pay out on the policies' combined $50 million in coverages.
In the event that the resort's activities were disrupted, Ocean Casino, doing business as "AC Ocean Walk, LLC," maintained property insurance coverage to cover losses. But because of claims that Ocean Casino didn't sustain any physical harm as a result of the coronavirus, the three insurers of those policies—AIG Specialty Insurance, American Guarantee & Liability Insurance Co., and Interstate Fire & Casualty Co.—have declined to pay out on the policies' combined $50 million in coverages.
