The recent ruling by a California court of appeal to reverse a lower court’s dismissal and reinstate a COVID-19 related business interruption (BI) lawsuit filed against a division of global insurer Allianz, has the potential to set a “worrying precedent”, according to analysts at Jefferies.
Last week, Division Seven of California’s Second District Court of Appeal allowed, by unanimous decision, a COVID-19 BI dispute to go forward.