Do "all-risk" property insurance policies cover business interruption losses stemming from the COVID-19 pandemic? That is the multimillion-dollar question, and it is unfortunately one whose answer is not yet entirely clear. As a threshold matter, it depends on the language of the property insurance policy, and, specifically, whether or not the policy contains an exclusion for losses resulting from "viruses". It also depends on whether losses resulting from governmental orders or other actions are excluded, and whether the losses at issue can be characterized as relating to the virus or to a governmental stay-at-home order attributable to the virus. The language of the particular insurance policy is accordingly of paramount importance, and should be studied carefully with the aid of an experienced attorney.