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What Does Business Interruption Mean?

In mid-March 2020, due to the Coronavirus pandemic, America’s businesses were advised to shift to remote work or close much or all of their normal business operations unless deemed essential. Restaurants were ordered to cease all dine-in services and only serve curbside or delivery. Retail and grocery stores reduced hours or closed altogether. Planes are now flying with 5% loads and hotels are empty. Supply chains have been severely disrupted. Consumers have been told to stay home and shelter in place disrupting the economy. Millions have lost their jobs, decimating demand for products and services. The Coronavirus pandemic has changed much of the workplace, bringing many businesses to their knees. The economic implications are staggering.

If you have a business interruption clause in your insurance policy, you may be able to recover from your carrier. It is unlikely that your insurer or broker will tell you this. As of this writing, almost every claim made for Covid related business interruption losses has so far been denied. The insurance industry is taking a strong stand against paying these claims, but we believe there is legal precedent for recovery under many policies, even those with so-called “virus exclusions.”

Business interruption claims have traditionally been associated with natural disasters (fire, flood, earthquake, hurricane, tornado, etc), but we believe these policies should compensate policy holders for losses due to the Coronavirus pandemic. The fight will be hard. We cannot guarantee success. We can and do promise you our best.

Our firm takes these cases on a contingency basis, meaning our clients do not have to pay us unless we are successful.

Now is the time for the insurance industry to step up. We believe the U.S. economy and the American dream are causes worth fighting for. If your business was negatively impacted by the Coronavirus pandemic, and you hold a commercial insurance policy with a provision for business interruption losses, contact us today.