Real Estate Co. Not Covered for COVID-19 Economic Losses, Pa. Federal Judge Rules
September 16, 2021
PHILADELPHIA — A real estate corporation is not entitled to coverage from Travelers Excess and Surplus Lines Co. for losses it sustained during the COVID-19 pandemic because they were not caused by “direct physical loss of or damage to property,” a Pennsylvania federal judge has ruled.
In a Sept. 13 order, Judge Cynthia M. Rufe of the U.S. District Court for the Eastern District of Pennsylvania held that because Infinity Real Estate LLC did not sustain damage that required property to be “repaired, rebuilt or replaced,” coverage was not triggered under the policy.
New York-based Infinity, through its affiliates, owns …