Baylor Wins COVID Business Interruption Jury Verdict Against Lloyd’s (Business Insurance)

Baylor Wins COVID Business Interruption Jury Verdict Against Lloyd’s

  Tuesday, September 6th, 2022 Source: Business Insurance

A jury has issued a $48.5 million verdict in favor of Baylor College of Medicine in COVID-19 business interruption coverage it filed against Lloyd’s underwriters, in the first such verdict on the issue.

Wednesday’s verdict, which followed a three-day trial and was not officially released as of Friday afternoon, had three components -- a $42.8 million award for business interruption, $3.3 million for extra expenses and $2.3 million for research losses -- according to Baylor attorney Murray Fogler of Fogler, Brar, O’Neil & Gray LLP in Houston.

Mr. Fogler said the verdict is expected to be appealed. Lloyd’s attorney could not be reached for comment.

The court of appeals for the 14th District of Texas in Houston had previously granted summary judgment to Axa XL unit XL Insurance American Inc. and Chubb Ltd. unit ACE American Insurance Co. in the case filed by the Houston-based medical school, but refused to dismiss Lloyd’s from the case, Mr. Fogler said.

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