MDawg
06-06-2020, 08:22 AM
Treasure Island (TI) Las Vegas suing insurance company for denying COVID-19 pandemic losses | KLAS - 8 News NOW (https://www.8newsnow.com/news/local-news/treasure-island-ti-las-vegas-suing-insurance-company-for-denying-covid-19-pandemic-losses/)
T.I.'s policy was from March 2019 - March 2020, and they filed the claim, which was denied, the day before the policy expired. Losses claimed were $850 million in property damage and $327 million in business due to COVID-19.
Claim was denied, and T.I. is going to court over it. Actually nice to see a heavy taking on an insurance company for failing to pay a claim, but given that T.I. closed on March 18th, is this $1.1B just for the losses for those 14 days they were closed in March 2020, before the policy lapsed?
I'd assume that T.I. bound another policy for the next one year period, so why not a larger claim for the period April 1 - June 4, 2020, that they were closed, with whichever carrier they could find for that period - unless, maybe no one would bind them while they were closed, or anyone who did bind them for that period excluded in advance any coronavirus closure related loss claims?
T.I.'s policy was from March 2019 - March 2020, and they filed the claim, which was denied, the day before the policy expired. Losses claimed were $850 million in property damage and $327 million in business due to COVID-19.
Claim was denied, and T.I. is going to court over it. Actually nice to see a heavy taking on an insurance company for failing to pay a claim, but given that T.I. closed on March 18th, is this $1.1B just for the losses for those 14 days they were closed in March 2020, before the policy lapsed?
I'd assume that T.I. bound another policy for the next one year period, so why not a larger claim for the period April 1 - June 4, 2020, that they were closed, with whichever carrier they could find for that period - unless, maybe no one would bind them while they were closed, or anyone who did bind them for that period excluded in advance any coronavirus closure related loss claims?