Got interruption insurance? These companies found it’s useless in the age of COVID-19

To hear Century 21 Stores tell it, the New York retailer should have survived the pandemic because it had business interruption insurance. Instead, insurers refused to pay, and Century 21 is shutting down after almost 60 years in business.

More than 1,000 companies have found themselves in the same predicament and have sued, with cases playing out across the U.S. and U.K. Insurers are arguing they don’t have to pay out on pandemic claims in part because the coronavirus didn’t damage property.

Their stance will be tested as new cases are filed by bigger businesses with the resources to wage long, sophisticated court battles where the stakes are much higher. Until recently, the typical lawsuit demanding insurance payments came from smaller companies that couldn’t sustain a fight, said Walter J. Andrews, who represents Ralph Lauren Corp. in its $700 million insurance case filed last month in New Jersey.

“Their business … Read More

French police use tear gas as yellow vests return to Paris By Reuters

© Reuters. Protestors attend a demonstration of the yellow vests movement in Paris


PARIS (Reuters) – French authorities deployed a heavy police presence in Paris and used tear gas on Saturday as the “yellow vest” movement returned to the capital after being dampened by the coronavirus crisis.

Several hundred demonstrators gathered at two squares in Paris for authorised marches. One cortege set off without incident but the other march was delayed after police used tear gas to disperse protestors who left the designated route and some of whom set fire to waste bins and a car.

The authorities had banned protests in a central zone including the Champs-Elysees, the scene of rioting at the height of the yellow vest movement nearly two years ago when anger over fuel taxes and President Emmanuel Macron’s style of rule brought hundreds of thousands onto the streets across France.

Police said they

Read More