Business Income Loss Not Tangible, 5th Circuit Says In Coronavirus Coverage Suit

Mealey's (March 23, 2022, 12:38 PM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on March 22 affirmed a lower federal court’s grant of a businessowners insurer’s motion for judgment on the pleadings in an insureds’ lawsuit seeking coverage for their alleged losses prompted by the coronavirus pandemic, finding that the policy’s coverage for “direct physical loss of or damage to property” does not cover the insureds’ business income losses that were caused by civil authority orders closing nonessential businesses in response to the coronavirus pandemic....