BUSINESS INTERRUPTION CLAIMS
A Resource for Business Owners Impacted by COVID-19
The impact of COVID-19 on our economy has been alarming. Businesses throughout the country have had their operations interrupted or completely shut down. The purpose of “business interruption insurance” is to help businesses recover losses directly attributed to events beyond of its control that interrupt its regular business operations. Business interruption insurance is designed to put a business in the same financial condition it would have been had no loss occurred.
You may be wondering whether your business interruption policy covers your losses. For some businesses, the interruption and closure of business operations for COVID-19 was ordered by state and local governments while others closed because of the need to protect employees and customers.
Many businesses are experiencing difficulties filing business interruption claims because the insurance carriers are attempting to rely on exclusions and other policy language to systematically deny claims. We can review and analyze your policy to determine what coverage is available based on your situation and provide legal options for a claim that has been wrongfully denied.
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What is Business Interruption Insurance?
Business interruption insurance protects a business from economic loss attributed to the business’s inability to operate in a normal manner. Policy language frequently varies by carrier, policy and the coverage negotiated. The ability to recover business losses is determined by the specific policy and the circumstances of the business’s loss of income. Because of the government mandated shutdowns with COVID-19, business owners are utilizing their business interruption policies to replace lost income, pay bills, payroll and more. Most insurance carriers are already attempting to rely on exclusions and other policy language to deny claims.
– Loss of Revenue
– Partial closure losses [*depends on your policy language]
– Mortgage, lease rent payments
– Loan payments
– Loss of ingress or egress
– Extra expenses to continue operation when the property isn’t accessible
– Undocumented revenue
– Losses from closures caused by damages not covered
Many businesses have had their operations interrupted by COVID-19. Businesses with business interruption insurance policies are being denied coverage by insurance companies, who claim that COVID-19 is not covered. In many cases, the exclusionary language in a business interruption policy is not enforceable.
We are currently evaluating claims for business owners across the United States such as restaurants, healthcare professionals, automobile dealers, retailers, management companies and others on a confidential and complimentary basis.
All claims are handled on a 100% contingency basis, meaning that a policyholder does not pay any out-of-pocket fees or expenses under any circumstances (only from a recovery obtained).
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