AECOM Sues Zurich Over Virus Insurance Claims (Environment Analyst)

AECOM Sues Zurich Over Virus Insurance Claims

  Tuesday, January 19th, 2021 Source: Environment Analyst

Professional services giant AECOM has commenced legal proceedings against Zurich American Insurance for breach of contract and violation of "the implied covenant of good faith and fair dealing".

AECOM alleges the insurer refused to pay out on coronavirus-related claims even though such coverage was not specifically excluded in AECOM’s "all-risk" property insurance policies.

Like the majority of firms in the consulting and engineering industry, AECOM experienced losses as a result of having to shut down many of its 800 offices and project sites globally because of the virus.

More than 650 projects were closed in May, and at least 500 employees have been infected, according to the complaint filed on 11 January to the US district court in Pasadena, California.

AECOM argues that because of the size of its global operations it decided to purchase the all-risk property policies, which should have protected the company from economic losses as a result of any risk not specifically excluded from the coverage. Although the insurance industry has a standard "virus and bacteria" exclusion form, Zurich did not include it in the policies it sold AECOM.

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