L.A. Lakers Haven’t Shown Covid Damage to Arena, Insurer Says

The Los Angeles Lakers’ insurance coverage claims for losses from the Covid-19 pandemic should be dismissed because the organization wasn’t able to show the virus physically damaged its properties, a Chubb Ltd. affiliate told the Central District of California.

To obtain coverage under policies that require a physical loss of or damage to property, a policyholder must show “a physical alteration of property or that it was permanently dispossessed of its property,” Chubb affiliate Federal Insurance Co. told the U.S. District Court for the Central District of California on Nov. 5, citing a recent opinion of the U.S. Court of ...