Horse Racing Company Sues AIG Unit Over Virus-Linked Losses

A horse racing track owner is suing American Home Assurance Co. to recover its allegedly “substantial” pandemic-related losses, arguing that its properties suffered physical damage that would trigger insurance coverage.

Phoenix-based TP Racing LLLP closed its Turf Paradise complex and all of its in-state betting locations in March 2020 to comply with government-issued shutdown orders meant to stem Covid-19’s spread, the company said Jan. 22 in its lawsuit.

TP Racing sued the AIG unit after being denied its insurance claim to recoup lost income and extra expenses. The policy provides up to $81.7 million in protection, the company said.

American ...