Movie Theatre Giant Cinemark Sues for Coverage of $400 Million in COVID-19 Losses
December 24, 2020
DALLAS — Movie theatre giant Cinemark USA Inc. has sued Factory Mutual Insurance Co. for $400 million in business interruption losses it sustained when it was forced to limit or cease operations at its locations in compliance with government COVID-19 shutdown orders and take remedial measures due to virus contamination.
In a complaint removed to the U.S. District Court for the Northern District of Texas on Dec. 22, Cinemark contends that coverage was triggered under its $500 million “all-risks” policy because it sustained “physical loss” of property caused by the orders and the COVID-19 virus itself.
Cinemark submitted a claim …