In a a new federal lawsuit, AECOM says Zurich America Insurance Co. breached its obligation to pay claims for global economic losses caused by the COVID-19 pandemic, under an "all-risk" property and business interruption policy held by the firm. The industry design-build giant seeks to recover losses plus punitive damages for what it says is the insurance company’s “contemptible” conduct in saying it would deny claims under the policy.
Except for exclusions, all-risk policies are broader in what they cover than named peril policies, which are restricted to specific causes.