The Supreme Court of New Jersey decided that the COVID-19 outbreak did not result in the type of direct physical loss or damage necessary for a payout from business interruption insurance, and as a result, an Atlantic City casino is not entitled to compensation.
The Ocean Casino Resort was suing three insurance companies in this case. These insurance companies mainly rejected payments to the casino, claiming the virus had no direct physical effect on its property.
The Ocean Casino Resort was suing three insurance companies in this case. These insurance companies mainly rejected payments to the casino, claiming the virus had no direct physical effect on its property.
