Summary Judgment Motions Denied in Thor Equities’ COVID-19 Coverage Action

NEW YORK — A New York federal judge has denied motions for summary judgment in a COVID-19 coverage action filed by Thor Equities against Factory Mutual Insurance Co., finding it unclear whether the policy’s exclusions for contamination and “loss of market or loss of use” apply to the commercial real estate company’s losses.

In a March 31 order, Judge Analisa Torres of the U.S. District Court for the Southern District of New York found the exclusions “are susceptible to more than one interpretation, and potentially compatible with either party’s interpretation.”

Thor rents properties across the country to hundreds of tenants …