Las Vegas-based Circus Circus Casino has announced that they're suing insurance group AIG for more than $75 million because the company's insurance policy failed to cover "all risks" related to the Covid-19 pandemic.
The two groups entered into an insurance policy last December, which provided up to $500 million in coverage against "all risks of direct physical loss or damage to insured property from a covered cause of loss". Circus Circus alleges that a "covered cause" in the insurance policy includes any cause not specifically excluded in the policy.
The casino says that the policy didn't have a stipulation that excluded a highly contagious disease, nor were government-imposed stay at home orders. Because of this, they feel they're entitled to damage payouts from AIG, who in turn claims that the shutdown isn't covered.
The case was filed in the US District Court for Nevada, and will be heard in the future. We'll be sure to update readers as we learn more.