Haynes and Boone, LLP Partner Leslie Thorne talked with Insurance Coverage Law Center about the potential outcome concerning the first appellate court case on business interruption and COVID-19 insurance coverage and the impact the decision will have moving forward.
Below is an excerpt:
ICLC: What are your predictions on the outcome of the appeal? What impact could this outcome potentially have on business interruption litigation going forward?
Leslie Thorne, a New York-based partner in Haynes and Boone's Insurance Recovery Practice Group and co-chair of their Litigation Practice Group, said that she was hopeful that the Eighth Circuit-like other courts-will acknowledge that structural change to the insured's property is not required for there to be a "physical loss." A win for policyholders would certainly be helpful from a persuasive standpoint, but it's also important to remember that the Court is deciding an issue of Iowa state law. Courts across the country will have the opportunity to consider these issues under different state laws and we may very well see them reach different conclusions based on the facts, pleadings, and policy language before them.
To read the full article, click here. (Subscription required.)
Below is an excerpt:
ICLC: What are your predictions on the outcome of the appeal? What impact could this outcome potentially have on business interruption litigation going forward?
Leslie Thorne, a New York-based partner in Haynes and Boone's Insurance Recovery Practice Group and co-chair of their Litigation Practice Group, said that she was hopeful that the Eighth Circuit-like other courts-will acknowledge that structural change to the insured's property is not required for there to be a "physical loss." A win for policyholders would certainly be helpful from a persuasive standpoint, but it's also important to remember that the Court is deciding an issue of Iowa state law. Courts across the country will have the opportunity to consider these issues under different state laws and we may very well see them reach different conclusions based on the facts, pleadings, and policy language before them.
To read the full article, click here. (Subscription required.)