The U.S. Court of Appeals for the 11th Circuit has joined courts across the country in siding with an insurer against businesses trying to recoup profits lost during the COVID-19 pandemic.

The past decade has been the worst on record for wildfire insurance losses, according to Zesty.ai.

Insurance technology news from Praxent, West Bend Mutual Insurance Company and more.

The insurer argued it couldn't retroactively apply the assignment to the contractor because the policy was issued before the new statute was passed.