Retail News

Interruption insurance offered no protection against COVID-19

Fortune 09/14/2020

More than 1,000 companies with business interruption insurance have sued insurers after being forced to close due to the novel coronavirus. The Century 21 department store chain, which filed for bankruptcy and has begun liquidating its business, said it was forced to do so after its insurer refused payment. Insurance companies argue that the virus has not caused property damage and they are not liable for payment.

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