Here’s a rare case of a casino losing
By
WAYNE PARRY Associated Press
January 24, 2024, 2:30 PM ET
• 3 min read
ATLANTIC CITY, N.J. — New Jersey’s Supreme Court ruled Wednesday that an Atlantic City casino is not entitled to payouts from business interruption insurance for losses during the COVID-19 outbreak, determining that the presence of the virus did not constitute the kind of “direct physical loss or damage” required for such a payout.
The case involved the Ocean Casino Resort’s claims against three insurance companies — AIG Specialty Insurance Co., American Guarantee & Liability Insurance Co. and Interstate Fire & Casualty Co. Those insurers largely denied payouts to the casino, saying it did not suffer direct physical loss or damage because of the virus.
The casino sued and defeated an attempt by the insurers to dismiss the case. But that decision was reversed by an…
