Is it time to invest in a sewing machine?
NEW YORK: Century 21, an iconic NY off-price dept store chain, filed for bankruptcy with plans to shut down, becoming latest victim of the pandemic.
The statement from the CEO is so misleading. Most insurance policies have a virus exclusion. Also, there needs to be physical damage for business interruption coverage to be triggered. So no, they did not pay for coverage for the stores closing. There are multiple court cases around the country on this very topic. The insurance policies are clear.
"We now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," said Century 21 co-CEO Raymond Gindi.https://www.google.com/amp/s/amp.cnn.com/cnn/2020/09/10/business/century-21-bankruptcy-closing/index.htmlThe statement from the CEO is so misleading. Most insurance policies have a virus exclusion. Also, there needs to be physical damage for business interruption coverage to be triggered. So no, they did not pay for coverage for the stores closing. There are multiple court cases around the country on this very topic. The insurance policies are clear.
Maybe that's why there's looters so they can get insurance
Quotes in a signature is annoying, as it comes across as an independent post.
I believe he is a frum Yid