$2B Caesars lawsuit raises pandemic coverage issue

As Caesars Entertainment joined the growing list of companies seeking pandemic-related business interruption coverage, a spokesman for the insurance industry stressed that such coverage in most cases is priced to cover physical losses, and litigation seeking retroactive coverage for pandemic-related losses “would undermine the stability of the insurance industry.” Stef Zielezienski of the American Property Casualty Insurance Association declared: “Only the federal government can be the financial bridge for a crisis of this scale, proportion and duration.”