10th Cir. Affirms Dismissal of Goodwill Industries’ COVID-19 Coverage Action
December 22, 2021
DENVER — The 10th Circuit Court of Appeals has affirmed that a non-profit company cannot recoup its COVID-19-related economic losses from Philadelphia Insurance Co. because it did not sustain “physical loss of or damage to” property, as required by the policy.
In a Dec. 21 opinion, the appellate panel explained that the insured’s temporary inability to use its property for its intended purpose was not a “direct physical loss.” To conclude otherwise would ignore the word “physical” and violate the requirement that every part of a policy be given meaning, the panel explained.
Goodwill Industries of Central Oklahoma Inc. …