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AIG, Lloyd’s Beat Covid Insurance Lawsuit Over Oklahoma Casinos

Sept. 14, 2022, 3:31 PM

The insurance units of AIG Inc. and Lloyd’s of London beat Cherokee Nation’s request for coverage of its casino’s Covid-related financial losses, after Oklahoma’s high court said proof of physical property damage is required for the policy to kick in.

The Native American tribe failed to show that the casinos’ temporary shutdown in 2020 resulted in property damage, the Oklahoma Supreme Court said in a 6-3 ruling on Tuesday, becoming the sixth state high court to rule in favor of insurers in Covid-related insurance disputes.

“We reject Nation’s invitation to expand business interruption coverage,” the majority said, siding with AIG ...