toobfreak
Tungsten/Glass Member
I hate insurance companies, they are all bloodsucking leeches who exploit other people's fears and insecurities to suck them dry of money then use any and every excuse to not pay out on claims no matter how small the technicality, getting filthy rich in the process!
Well, it looks like what goes around finally comes around and now several insurance companies which insure Major League Baseball (MLB) against losses are getting a taste of their own medicine. Apparently MLB lost a lot of money over the summer due to shutdowns and restrictions, and the League and all the teams took a look at their policies, and
THERE WAS NOTHING IN THE POLICIES EXCLUDING COVID-19 as a cause of loss against concessions from ticket sales, parking sales, food sales, beer sales, etc., so they all filed claims for billions-- --
-- -- -- and the insurance companies have refused to pay!
So now AIG, Factory Mutual and Interstate Fire and Casualty Company are all being sued by the baseball league and all the teams! I love it!
Apparently, the League's policies are supposed to cover "ALL" risks, and Covid-19 is a risk, and the carriers put nothing in the policies which EXCLUDES losses from viral pandemics!
Well, it looks like what goes around finally comes around and now several insurance companies which insure Major League Baseball (MLB) against losses are getting a taste of their own medicine. Apparently MLB lost a lot of money over the summer due to shutdowns and restrictions, and the League and all the teams took a look at their policies, and
THERE WAS NOTHING IN THE POLICIES EXCLUDING COVID-19 as a cause of loss against concessions from ticket sales, parking sales, food sales, beer sales, etc., so they all filed claims for billions-- --
-- -- -- and the insurance companies have refused to pay!
So now AIG, Factory Mutual and Interstate Fire and Casualty Company are all being sued by the baseball league and all the teams! I love it!
Apparently, the League's policies are supposed to cover "ALL" risks, and Covid-19 is a risk, and the carriers put nothing in the policies which EXCLUDES losses from viral pandemics!
MLB, Teams Sue Insurance Providers Over Billions in COVD-19 Losses
The league and all 30 teams lost billions of dollars because of COVID-19, and all of those losses should be covered by their insurance policies.
www.si.com