Atlantic City, New Jersey. Credit: ESB Professional/Shutterstoc NJ Supreme Court Goes Beyond Question of 'Direct Physical Loss' in COVID-19 Insurance Claim
"Although it is not strictly necessary given our conclusion that Ocean Walk did not allege facts to establish a 'direct physical loss' of or 'direct physical damage' to its property, we nonetheless briefly address Ocean Walk's argument that the contamination exclusion in the policies issued by AGLIC, AIG, and IFCC does not apply here," Justice Anne M. Patterson wrote.
January 24, 2024 at 07:08 PM
5 minute read
In a decision on a COVID-related business interruption dispute, the New Jersey Supreme Court went beyond addressing the question of whether "direct physical loss" of or "direct physical damage" to property took place to address the argument of whether a contamination exclusion applies.
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