Jefferies warns of ‘worrying precedent’ from California Covid BI ruling
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Jefferies warns of ‘worrying precedent’ from California Covid BI ruling

Samuel Casey
19 July 2022
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Analysts at Jefferies have warned that a court ruling in California could set a “worrying precedent” for BI losses relating to Covid-19, potentially fuelling further litigation and ultimately impacting the valuations of commercial insurers.

In a case brought against Allianz subsidiary Fireman’s Fund, the Californian Second District Court of Appeal last week overturned a ruling that Covid-19 cannot be deemed to cause physical damage sufficient to give rise to a contingent BI claim.

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Samuel Casey
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