Corporate Transparency Act: Information for All Corporations, LLCs & Partnerships
Employment Law Team Named Best in Vermont
The issue on appeal was whether SARS-CoV-2 in the air or on surfaces at a premises, if proven, constitutes “direct physical loss of or damage to property” to trigger property insurance coverage. The NH Supreme Court reversed the Trial Court which had ruled in favor of the hotels seeking economic damages due to the pandemic. The Supreme Court found the presence of aerosolized particles in the air and/or fomites on surfaces did not physically alter the insured premises. Although the virus presented a mortal hazard to humans the Court noted it presented little or no hazard to buildings which remain intact and available for use once the human occupants no longer present a health risk to one another. In support the Court noted the presence of the virus did not require rebuilding or replacement of the property and the risk associated with the virus could be remedied with cleaning and/or the passage of time.
