Sacramento Kings Owners Sue Factory Mutual for COVID-19 Losses

SACRAMENTO, Calif. — The owners of the Sacramento Kings professional basketball team and their arena have sued Factory Mutual Insurance Co., demanding $850 million in coverage for losses arising from cancellations of games and concerts due to COVID-19 and related government shutdown orders.

In a March 11 complaint filed in the U.S. District Court for the Eastern District of California, Sacramento Downtown Arena LLC and Sacramento Kings Limited Partnership say they lost an entire year of revenue after having to cancel live events, including Sacramento Kings games, NCAA tournament games and Billie Eilish and Camila Cabello concerts.

Plaintiffs allege …