Hotel, Restaurant Franchises Not Covered for $40 Million in COVID-19 Losses, N.J. Judge Reiterates
May 25, 2021
CAMDEN, N.J. — A New Jersey federal judge has refused to vacate her ruling that the owners of 120 restaurant and hotel franchises are not entitled to coverage for $40 million in claimed losses arising from the COVID-19 pandemic and related government stay-at-home orders.
In a May 24 letter opinion, Judge Susan Wigenton the U.S. District Court for the District of New Jersey reiterated that The Briad Group and various affiliates did not sustain “direct physical loss of or damage to property” as required by the policy issued by American Guaranty & Liability Insurance Co.
Briad owns three major divisions: …