My guess is that that the pandemic will lead to much more specific language in insurance policies that will specifically mention either ordered closure by the city, state, or Federal government for any reason or closure as the result of a pandemic or both.
The insurance company wants to follow the letter of the agreement, while Jujamcyn is arguing the spirit of the agreement. Given that the scope of the pandemic is pretty unprecedented, I could see a judge siding with Jujamcyn in this case. They purchased business interruption insurance and, through no fault of their own, and, in fact, by order of the governor, their business was interrupted.
But, if they lose, I'm sure they're be fine. If there's ever an advantage to being the scion of billionaires, it would be now. Not that there's ever NOT advantage in being the scion of billionaires. |
