Thor Equities LLC v. Factory Mut. Ins. Co.

MEMORANDUM AND ORDER This is an action for anticipatory breach of contract with respect to a commercial property insurance policy issued by Defendant, Factory Mutual Insurance Company (“FM”), to Plaintiff, Thor Equities, LLC (“Thor”). Thor seeks damages and a judgment declaring that FM is required to pay Thor for losses arising from the COVID-19 pandemic. Compl., ECF No. 1. The parties cross-move for partial judgment on the pleadings pursuant to Federal Rule of Civil Procedure 12(c), seeking a ruling on whether two exclusions in the insurance policy bar coverage of Thor’s losses. ECF Nos. 32, 38; Pl. Mem. at 2-3, ECF No. 34; Def. Mem. at 2-3, ECF No. 44. For the reasons stated below, the motions are DENIED. BACKGROUND¹ Thor, a commercial landlord, rents properties across the country to hundreds of tenants, for use in a variety of businesses, including office space, retail stores, restaurants, and bars. Compl. 13. On March 13, 2020, Thor purchased from FM an insurance policy that provides up to $750 million hi coverage for property damage and business interruption losses (the “Policy”). Policy, ECF No. 1-1; Compl.

3, 20, 24, 65. Coverage began on March 15, 2020. Policy at 2-3; Compl.