Judge rules businesses can sue insurers for coronavirus losses
The coronavirus has upended lives and businesses around the globe. From business interruption and supply chain disruption to event and travel cancellations, we are only just seeing the beginning stages of COVID-19's impact. These articles provide valuable insights on insurance coverage, preparation tips and more to help individuals and businesses reduce exposures as the virus spreads.
After 17 years of paying around $2 million in premium each year for pandemic insurance coverage, Wimbledon is recouping what it spent — and then some.
Last week, the All England Club (AELTC) and the Committee of Management of The Championships announced the cancellation of The Championships 2020, more commonly known as Wimbledon, for the first time since World War II. Just days after the announcement, SB Nation and Action Network reported that the renowned tennis tournament will collect 114 million pounds, approximately $141 million, from its insurance policy containing an infectious disease clause. The Wimbledon tournament was set to take place June 29-July 12, 2020; it will commence in June 2021.
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