Tuesday, September 21, 2021
HomeEntertainmentHollywood talent agency CAA sues insurer over COVID-19 losses

Hollywood talent agency CAA sues insurer over COVID-19 losses

Inventive Artists Company on Friday sued its insurer Affiliated FM Insurance coverage Co. for not protecting losses suffered because of the COVID-19 pandemic.

The Century Metropolis expertise company stated it believes its insurance coverage coverage ought to cowl the monetary affect COVID-19 had on its enterprise, together with canceled dwell occasions and Hollywood productions.

As a substitute, its insurer is protecting solely losses that fall below sub-limits of $100,000 below its “communicable illness coverages.” Affiliated FM “solely covers a small fraction of the losses CAA sustained because of the pandemic and which is definitely lower than the premium paid by CAA throughout every of the coverage intervals at problem on this motion,” CAA stated in its lawsuit.

“CAA moderately believed it will be coated for unprecedented and unanticipated losses, together with losses related to the interruption of its enterprise operations from the unfold of SARS-CoV-2 and COVID-19 and the associated authorities closure orders,” CAA stated in its lawsuit.

The grievance, filed in Los Angeles Superior Courtroom, didn’t specify the quantity of losses and damages CAA is looking for.

An AFM consultant stated in a press release that the corporate values its long-term relationships with policyholders.

“It’s unlucky when authorized issues come up as a result of we strongly consider our insurance coverage insurance policies are clear on the protection supplied,” stated Steve Zenofsky, a consultant for AFM.

CAA is amongst different Hollywood companies suing insurers over disputes associated to protection. Final 12 months, Beverly Hills-based United Expertise Company sued Vigilant Insurance coverage Co. and Federal Insurance coverage Co. for breach of contract. In July a choose ordered the case to be dismissed. UTA has filed a discover of intent to enchantment.

Expertise companies, together with different leisure corporations, suffered vital enterprise woes in the course of the pandemic, taking cost-cutting measures similar to layoffs. In July 2020, CAA cut 90 agents and executives.

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