Baseball sues insurance companies over COVID-19 losses
Major League Baseball and its 30 teams are suing insurance providers over billions of dollars in losses due to the coronavirus pandemic during the 2020 season. MLB says for years, it has paid for millions of dollars worth of "top-shelf All Risks Policies" to protect baseball "against the risk of catastrophic economic losses." But, team owners say the insurers "have very publicly refused to live up to their contractual obligation to pay what they promised."
■Class discussion: Does it surprise you that the insurance companies do not want to pay the claims of the team owners? If the insurance companies do pay, will they just raise the premiums of all their customers to make up the losses? Who should get the most help in the pandemic? Big businesses? Small businesses? Unemployed workers? If businesses have to close, where will unemployed workers find jobs? If laid off workers have no money to spend, how can businesses sell enough goods or services to stay open?