{"id":183851,"date":"2021-08-24T16:23:04","date_gmt":"2021-08-24T23:23:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=183851"},"modified":"2021-08-24T17:11:27","modified_gmt":"2021-08-25T00:11:27","slug":"foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/","title":{"rendered":"Foxwoods to Get $2M from $1.6B Insurance Policy for Pandemic Losses, Court Rules"},"content":{"rendered":"

Foxwoods Resorts Casino<\/a> can recover just $2 million in coronavirus-related losses from its insurer, Factory Mutual, a Connecticut superior court has court ruled. That\u2019s just a fraction of the $76 million the casino\u2019s owner, the Mashantucket Pequot Tribal Nation, had sought.<\/p>\n

\"Foxwoods\"
Last week Foxwoods reported its best month of slots revenues since the pandemic began. (Image: AP)<\/figcaption><\/figure>\n

The Pequots were among dozens of casino operators, along with countless other businesses, to sue insurance providers over the widespread denial of claims related to the pandemic.<\/p>\n

The tribe argued the $76 million should have been covered under the \u201call risk\u201d policy it held with Factory Mutual, which insured Foxwoods for up to $1.6 billion.<\/p>\n

While the tribe claimed bad faith and breach of contract, Factory Mutual argued that losses caused by \u201cviruses and contamination\u201d were specifically excluded from the casino\u2019s policy.\u00a0<\/strong><\/p>\n

Insurers Hold the Cards<\/strong><\/h2>\n

According to The Wall Street Journal<\/em>,\u00a0the insurers have the upper hand in these lawsuits, so far winning around 80 percent of at least 200 pandemic-related cases.<\/p>\n

Typically, insurers are arguing that claimants need to demonstrate their business and properties have suffered actual physical damage from the pandemic. And courts are agreeing that the temporary shuttering of a property doesn\u2019t cause physical damage in the way that a fire or a hurricane might.<\/p>\n

The Pequots try to show that costs caused by a virus are directly resulting from other physical damage not excluded,\u201d the ruling states. But \u201cthey can\u2019t escape the fact that their damage was directly caused by the virus, not some other\u00a0<\/em>covered cause.\u201d<\/p><\/blockquote>\n

Better Than Nothing<\/h2>\n

But at least the Pequots are coming away with something. That\u2019s because the operator purchased additional communicable disease coverage, which included money for cleanup and for communications, as well as communicable disease interruption losses, all of which translates into a $2 million payout.<\/p>\n

Meanwhile, America\u2019s largest casino operator, Caesars Entertainment, is currently suing a group of 60 insurers<\/a> for $2 billion who are refusing to pay, despite Caesars making $25 million in premiums towards \u201ca top-of-the-line, all-risk policy portfolio.\u201d<\/p>\n

Virus Resurgent but So Are Slots Players<\/strong><\/h2>\n

Despite boasting a highly vaccinated population, Connecticut has experienced a resurgence of COVID-19 cases since mid-July because of the highly transmissible delta variant. This has caused Foxwoods to reimplement the mandatory wearing of facemasks for all workers, regardless of their vaccination status.<\/p>\n

Nevertheless, the casino reported last week that its slots revenues hit $36.5 million in July, its highest monthly take since before the pandemic. Foxwoods is benefiting from the pent-up demand that followed the state\u2019s phased economic reopening over the spring and early summer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Foxwoods Resorts Casino can recover just $2 million in coronavirus-related losses from its insurer, Factory Mutual, a Connecticut superior court has court ruled. That\u2019s just a fraction of the $76 million the casino\u2019s owner, the Mashantucket Pequot Tribal Nation, had sought. The Pequots were among dozens of casino operators, along with countless other businesses, to […]<\/p>\n","protected":false},"author":36,"featured_media":183852,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18456],"tags":[],"acf":[],"yoast_head":"\nFoxwoods to Get $2M from $1.6B Insurance Policy for Pandemic Losses<\/title>\n<meta name=\"description\" content=\"Foxwoods can claim $2 million of $76 million it wanted from Factory Mutual for coronavirus losses, Connecticut court rules.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foxwoods to Get $2M from $1.6B Insurance Policy for Pandemic Losses\" \/>\n<meta property=\"og:description\" content=\"Foxwoods can claim $2 million of $76 million it wanted from Factory Mutual for coronavirus losses, Connecticut court rules.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-24T23:23:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-25T00:11:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/foxy.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/\",\"url\":\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/\",\"name\":\"Foxwoods to Get $2M from $1.6B Insurance Policy for Pandemic Losses\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/foxy.jpg\",\"datePublished\":\"2021-08-24T23:23:04+00:00\",\"dateModified\":\"2021-08-25T00:11:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Foxwoods can claim $2 million of $76 million it wanted from Factory Mutual for coronavirus losses, Connecticut court rules.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/foxwoods-to-get-2m-from-1-6b-insurance-policy-for-pandemic-losses\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/foxy.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/08\/foxy.jpg\",\"width\":1024,\"height\":768,\"caption\":\"Last week Foxwoods reported its best month of slots revenues since the pandemic began. 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