ACTIONS - By insured against insurer - Property coverage

Law360 Canada (February 16, 2023, 6:49 AM EST) -- Application by Sir Corp. for a declaration of coverage, and if successful, seeking an order directing a reference to determine the quantum of the applicant’s losses. The applicant, Sir Corp., was a Canadian restaurant chain owner/operator. The respondent was a property and casualty insurer which underwrote commercial property risks in the Canadian market. The court was asked to determine whether there was coverage under the policy of insurance issued by the respondent to the applicant for losses following the issuance of various government orders to manage the COVID-19 virus. If this was answered in the affirmative, the court was further asked whether to direct a reference to determine the quantum of the applicant’s losses. The policy at issue was an Aon manuscript policy that was tailored to the applicant’s insurance needs. The Policy was negotiated by the applicant’s broker, Aon Reed Stenhouse Inc. (Aon). The respondent issued an all-risks manuscript insurance policy to the respondent with a policy limit of $50,000,000.00, in consideration of a premium in the amount of $331,554. The parties did not dispute that the Policy was valid and in effect for the period that the claims were submitted to the respondent....
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