say that they incurred $44 million in losses from the Covid-19 shutdown and delay of the second series — and they want their insurer to pay up.
“Chubb also has known for more than a decade that it and its insureds face a substantial risk of loss from various viruses and pandemics and, since 2006, has had available to it an insurance industry standard-form exclusion applicable to certain losses causes by viruses and bacteria,” according to the lawsuit. “Yet, in selling the policy to Always Smiling, Chubb did not include any such exclusion.
According to the lawsuit, the series had $125 million in cast coverage and $1 million each for imminent peril, vivil or military authority, and ingress And egress coverages. Then, in September, Chubb sent a letter “essentially denying coverage for most aspects of Always Smiling’s loss,” according to the lawsuit.