The National Hockey League has filed suit against its insurers over alleged revenue losses during mandatory COVID-19 shutdowns.
BY Autumn Demberger | APRIL 2, 2022
Twenty out of the 32 National Hockey League teams and the league itself are suing five insurance companies as a result of the COVID-19 pandemic and its impact.
The teams are hoping to recoup an alleged $1 billion worth of losses due to the pandemic. These losses, they say, were in the form of ticket sales, concessions, parking and in-arena merchandise sales.
Due to the pandemic, especially during the 2020 season, teams were forced to play without cheering fans and subsequently without the added revenue stream.
The 2019-20 season was placed on pause in March 2020, finishing out later in the year once the teams were placed in quarantine bubbles.
The 2020-21 season further suffered, the teams allege, due to minimal attendance.
One insurer named in the lawsuit is Factory Mutual.… read more > “Penalty Shot: NHL Sues Its Insurers Over COVID-19 Losses”