Island View Casino Damage
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*Island View Casino Resort
*Island View Casino Damaged
*Island View Casino Damages
*Island View Casino Damage Update
GULFPORT, Miss. (AP) — A Mississippi Gulf Coast casino has become one of many businesses nationwide to sue its insurer for refusing to cover business losses because of the coronavirus pandemic.
The Island View is the successor to the Copa Casino, which was first located on a docked cruise ship and then a barge-based building at the Mississippi State Docks, across U.S. Highway 90(Beach Blvd.) from the current location. The Copa and its neighbor, Grand Casino Gulfport, were.
Currently the Island View Casino is the only casino left in Gulfport after the destruction caused by Hurricane Katrina. How to spin casino wheel slow spin. The new facility (Phase I) opened on September 18, 2006, with 1,033 video poker and slot machines and 15 table games, a 350-seat Island View buffet, C&G Grille, and a 563-room hotel. Silver Slipper Casino, the most western of the Mississippi Coast casinos and closest to Gustav’s landfall, made it through the storm well, said General Manager John Ferrucci. ’.The Weather Channel reported from the Island View Casino in Gulfport throughout Sunday night, so viewers across the country could see the floodwaters covering Jones. Harrah’s Gulf Coast also stayed open, along with Island View Casino in Gulfport. Harrah’s closed temporarily after the storm passed for clean-up. Several of the casinos were closed for days until.
Island View Casino Resort in Gulfport contends in the federal lawsuit that its insurer owes it $10 million for business losses caused by a 65-day COVID-19 shutdown in the spring.
Gulfside Casino Partnership, Island View’s owner, is also demanding $90 million in punitive damages, attorney’s fees and interest.
The Sun Herald reports Island View says it lost $46.2 million in revenue when it was closed from March 16 until May 21 under orders from the Mississippi Gaming Commission. However, its policy only covers up to $10 million.
The lawsuit alleges breach of contract and negligence against Georgia-based Westchester Surplus Lines Insurance Co., which parceled out shares of the risk to nine other insurers.
Gulfport attorney Joe Sam Owen, who represents the partnership, said legal disputes over COVID-19 insurance claims generally have boiled down to the definition of “physical damage.”
Insurance companies argue the property must suffer actual physical damage, as it would in a hurricane, to recover losses under their policies.
But the casino says its policy specifically covers losses caused by canceled bookings, or the inability to accept bookings, caused by “a contagious or infectious disease at an insured location, as determined by a public or civil authority,” and that the loss is covered “whether or not physical damage occurs to the property.”
The cancellation coverage costs Island View an annual premium of $408,268.
An insurance adjusting firm assigned to the claim, Crawford Global Technical Services, wrote in a July letter to Island View: “As a general matter, the policies afford coverage only when there has been direct physical loss, damage or destruction. In the absence of such damage, there is not coverage.”
Pollutants and contaminants, including viruses, are listed in an underlying policy as being excluded from coverage, the letter said. It also said other policy language states that “communicable disease” is not covered.
___
Follow AP’s coverage of the pandemic at https://apnews.com/hub/coronavirus-pandemic and https://apnews.com/UnderstandingtheOutbreak.Island View Casino Resort
Posted on: November 21, 2020, 09:14h.
Last updated on: November 21, 2020, 06:07h.
The parent company of Mississippi’s Island View Casino Resort has filed a $10 million federal lawsuit against its insurance company. The suit alleges the company is not covering losses related to the coronavirus pandemic.
Gulfside Casino Partnership is also in court seeking $90 million in punitive damages, attorneys’ fees, and interest from Westchester Surplus Lines Insurance Co., an excess and surplus lines provider, affiliated with Chubb.
The casino operator argues its policy should have covered losses related to the pandemic. The gaming property claims it lost $46.2 million when it was shut down between March 16 and May 21.
The casino was forced to shutter by a directive from the Mississippi Gaming Commission. Similar casino closings happened across the US in response to the coronavirus outbreak.
Among the allegations in the Mississippi lawsuit are breach of contract and negligence. When asked about the court action, Chubb spokesman Eric R. Samansky told Casino.org on Saturday, “As a matter of policy, we do not comment on pending legal matters.”
It appears Westchester Surplus Lines Insurance Co., divided shares of the risk to nine other insurers, the Associated Press reported.
Joe Sam Owen, a Mississippi lawyer who represents the casino’s parent company, explained to the AP a key issue in the case relates to how the phrase “physical damage” is defined.Insurance Companies Won’t Pay Without Physical Damage
The insurance sector generally holds a property must have experienced physical damage in the event. That would be something like from a hurricane.
Without that standard, the company would not have losses covered, many insurance companies have argued. But the Mississippi casino says it is covered “whether or not physical damage occurs to the property,” the AP said.
Also, the casino company argues any losses from canceled reservations or having been ordered to close and therefore unable to make reservations would be covered in a pandemic.
The gaming property company argues that a pandemic is covered as “a contagious or infectious disease at an insured location, as determined by a public or civil authority,” the AP adds.
Because its policy had cancellation coverage, the Island View Casino had to pay $408,268 a year for the premium, the company says.
But Crawford Global Technical Services, an insurance consultant which reviewed the casino’s claim, explained to the casino’s parent company, “As a general matter, the policies afford coverage only when there has been direct physical loss, damage or destruction. Online sudoku free puzzles. In the absence of such damage, there is not coverage,” the AP reported.
Viruses are among the items not covered, the firm adds. It also said a “communicable disease” is not covered.
In July, Circus Circus LV, LP, a holding company for the Las Vegas Strip venue of the same name, filed a lawsuit against American International Group (AIG). It joins a parade of companies pursuing litigation against insurance providers refusing to cover losses stemming from the coronavirus pandemic.
“AIG relies on sleight-of-hand, distortions of fact, and contortions of law to escape from Circus Circus’s covered claim,” the Circus Circus lawsuit said. “But no illusion or death-defying feat can alter the plain language of AIG’s policy and the broad all-risks coverage that it provides.”
Earlier this year, Evan Greenberg, CEO of Chubb Limited, told CNBC their company would cover only a limited amount regarding the pandemic.
“Putting business interruptions aside, the industry is likely to pay out, in the pandemic, somewhere in the range of $100 billion globally,” Greenberg said.Island View Casino DamagedLosses at Least $1 TrillionIsland View Casino Damages
Also, the American Property Casualty Insurance Association, a national trade group, said government-ordered coronavirus closures cost businesses $255 billion to $431 billion per month. Losses were estimated earlier this year at $1 trillion, the association adds.Island View Casino Damage Update
Viruses, like COVID-19, do not cause physical property damage. Thus, they are not typically covered under insurance. In the vast majority of cases, insurers did not price policies to include such coverage, and policyholders did not pay premiums to have this coverage,” David A. Sampson, president and CEO of the American Property Casualty Insurance Association, said in a July statement.
Register here: http://gg.gg/uixqy
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*Island View Casino Resort
*Island View Casino Damaged
*Island View Casino Damages
*Island View Casino Damage Update
GULFPORT, Miss. (AP) — A Mississippi Gulf Coast casino has become one of many businesses nationwide to sue its insurer for refusing to cover business losses because of the coronavirus pandemic.
The Island View is the successor to the Copa Casino, which was first located on a docked cruise ship and then a barge-based building at the Mississippi State Docks, across U.S. Highway 90(Beach Blvd.) from the current location. The Copa and its neighbor, Grand Casino Gulfport, were.
Currently the Island View Casino is the only casino left in Gulfport after the destruction caused by Hurricane Katrina. How to spin casino wheel slow spin. The new facility (Phase I) opened on September 18, 2006, with 1,033 video poker and slot machines and 15 table games, a 350-seat Island View buffet, C&G Grille, and a 563-room hotel. Silver Slipper Casino, the most western of the Mississippi Coast casinos and closest to Gustav’s landfall, made it through the storm well, said General Manager John Ferrucci. ’.The Weather Channel reported from the Island View Casino in Gulfport throughout Sunday night, so viewers across the country could see the floodwaters covering Jones. Harrah’s Gulf Coast also stayed open, along with Island View Casino in Gulfport. Harrah’s closed temporarily after the storm passed for clean-up. Several of the casinos were closed for days until.
Island View Casino Resort in Gulfport contends in the federal lawsuit that its insurer owes it $10 million for business losses caused by a 65-day COVID-19 shutdown in the spring.
Gulfside Casino Partnership, Island View’s owner, is also demanding $90 million in punitive damages, attorney’s fees and interest.
The Sun Herald reports Island View says it lost $46.2 million in revenue when it was closed from March 16 until May 21 under orders from the Mississippi Gaming Commission. However, its policy only covers up to $10 million.
The lawsuit alleges breach of contract and negligence against Georgia-based Westchester Surplus Lines Insurance Co., which parceled out shares of the risk to nine other insurers.
Gulfport attorney Joe Sam Owen, who represents the partnership, said legal disputes over COVID-19 insurance claims generally have boiled down to the definition of “physical damage.”
Insurance companies argue the property must suffer actual physical damage, as it would in a hurricane, to recover losses under their policies.
But the casino says its policy specifically covers losses caused by canceled bookings, or the inability to accept bookings, caused by “a contagious or infectious disease at an insured location, as determined by a public or civil authority,” and that the loss is covered “whether or not physical damage occurs to the property.”
The cancellation coverage costs Island View an annual premium of $408,268.
An insurance adjusting firm assigned to the claim, Crawford Global Technical Services, wrote in a July letter to Island View: “As a general matter, the policies afford coverage only when there has been direct physical loss, damage or destruction. In the absence of such damage, there is not coverage.”
Pollutants and contaminants, including viruses, are listed in an underlying policy as being excluded from coverage, the letter said. It also said other policy language states that “communicable disease” is not covered.
___
Follow AP’s coverage of the pandemic at https://apnews.com/hub/coronavirus-pandemic and https://apnews.com/UnderstandingtheOutbreak.Island View Casino Resort
Posted on: November 21, 2020, 09:14h.
Last updated on: November 21, 2020, 06:07h.
The parent company of Mississippi’s Island View Casino Resort has filed a $10 million federal lawsuit against its insurance company. The suit alleges the company is not covering losses related to the coronavirus pandemic.
Gulfside Casino Partnership is also in court seeking $90 million in punitive damages, attorneys’ fees, and interest from Westchester Surplus Lines Insurance Co., an excess and surplus lines provider, affiliated with Chubb.
The casino operator argues its policy should have covered losses related to the pandemic. The gaming property claims it lost $46.2 million when it was shut down between March 16 and May 21.
The casino was forced to shutter by a directive from the Mississippi Gaming Commission. Similar casino closings happened across the US in response to the coronavirus outbreak.
Among the allegations in the Mississippi lawsuit are breach of contract and negligence. When asked about the court action, Chubb spokesman Eric R. Samansky told Casino.org on Saturday, “As a matter of policy, we do not comment on pending legal matters.”
It appears Westchester Surplus Lines Insurance Co., divided shares of the risk to nine other insurers, the Associated Press reported.
Joe Sam Owen, a Mississippi lawyer who represents the casino’s parent company, explained to the AP a key issue in the case relates to how the phrase “physical damage” is defined.Insurance Companies Won’t Pay Without Physical Damage
The insurance sector generally holds a property must have experienced physical damage in the event. That would be something like from a hurricane.
Without that standard, the company would not have losses covered, many insurance companies have argued. But the Mississippi casino says it is covered “whether or not physical damage occurs to the property,” the AP said.
Also, the casino company argues any losses from canceled reservations or having been ordered to close and therefore unable to make reservations would be covered in a pandemic.
The gaming property company argues that a pandemic is covered as “a contagious or infectious disease at an insured location, as determined by a public or civil authority,” the AP adds.
Because its policy had cancellation coverage, the Island View Casino had to pay $408,268 a year for the premium, the company says.
But Crawford Global Technical Services, an insurance consultant which reviewed the casino’s claim, explained to the casino’s parent company, “As a general matter, the policies afford coverage only when there has been direct physical loss, damage or destruction. Online sudoku free puzzles. In the absence of such damage, there is not coverage,” the AP reported.
Viruses are among the items not covered, the firm adds. It also said a “communicable disease” is not covered.
In July, Circus Circus LV, LP, a holding company for the Las Vegas Strip venue of the same name, filed a lawsuit against American International Group (AIG). It joins a parade of companies pursuing litigation against insurance providers refusing to cover losses stemming from the coronavirus pandemic.
“AIG relies on sleight-of-hand, distortions of fact, and contortions of law to escape from Circus Circus’s covered claim,” the Circus Circus lawsuit said. “But no illusion or death-defying feat can alter the plain language of AIG’s policy and the broad all-risks coverage that it provides.”
Earlier this year, Evan Greenberg, CEO of Chubb Limited, told CNBC their company would cover only a limited amount regarding the pandemic.
“Putting business interruptions aside, the industry is likely to pay out, in the pandemic, somewhere in the range of $100 billion globally,” Greenberg said.Island View Casino DamagedLosses at Least $1 TrillionIsland View Casino Damages
Also, the American Property Casualty Insurance Association, a national trade group, said government-ordered coronavirus closures cost businesses $255 billion to $431 billion per month. Losses were estimated earlier this year at $1 trillion, the association adds.Island View Casino Damage Update
Viruses, like COVID-19, do not cause physical property damage. Thus, they are not typically covered under insurance. In the vast majority of cases, insurers did not price policies to include such coverage, and policyholders did not pay premiums to have this coverage,” David A. Sampson, president and CEO of the American Property Casualty Insurance Association, said in a July statement.
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