Business Interruption Insurance
The Coronavirus (Covid-19) has caused both government-mandated shutdowns and voluntary decisions for businesses to close down. Business Interruption Insurance often is purchased by businesses across the country to protect against these types of unforeseen circumstances. Each policy contains specific language relating to the circumstances that may trigger coverage. And most policies contain exceptions to coverage and/or limitations to coverage. However, under the current circumstances most insurance companies are denying coverage of these claims to policyholders.
LUNDY LAW IS CURRENTLY ACCEPTING BUSINESS INTERRUPTION INSURANCE CASES; ON A STRICTLY CONTINGENCY FEE BASIS. This means you pay nothing until we collect for you. Read more below about how we can help you with your claim.
Do I have a Business Interruption Insurance claim with COVID-19?
Business Interruption Insurance policies are normally written for the insured’s specific type of business. This coverage pays for loss of business income due to a suspension of normal business operations. In normal times, a suspension of coverage is usually attributable to a physical occurrence such as a fire, flood or similar happenstance. However, a suspension of operations may also arise from a contamination of a facility due to an infiltration of a contagion like bacteria or mold that makes the workplace unsafe to inhabit. It can also arise from the inability of a business or a building in which a business is located to open due to a governmental authority’s order, or a perceived need to protect employees and customers. Generally speaking the insurance may be triggered by a variety of reasons which prevent the use of your business and property for its intended purpose.
A business owner’s coverage of damages due to the coronavirus will come down to the insurer’s specific policy language and external conditions, such as a government-ordered shut down. However, most insurance policies contain a myriad of clauses that are subject to interpretation and may also be considered ambiguous.
Several courts around the country have interpreted provisions of business interruption insurance policies favorably to the policy holder under circumstances similar to COVID-19 circumstances. And, in addition, several states like Pennsylvania, have put forth bills in their legislatures to share the risk with insurance carriers to provide business interruption insurance proceeds to victims of COVID-19.
If your business has had a government-mandated shutdown issued to slow the spread of the coronavirus (COVID-19), you may be like many others who are counting on your business interruption insurance to replace lost income. But, you can be certain that the insurance industry will be denying most claims for a variety of reasons.
Lundy Law and COVID-19
We are currently accepting Business Interruption Insurance claims to pursue on behalf of a wide variety of business owners, regardless of industry. This includes healthcare professionals such as dermatologists, surgeons, and dentists, and a wide array of restaurants, landlords, building owners, management companies and retailers that have incurred additional costs and lost income during the COVID-19 outbreak.
Lundy Law’s representation is on a totally contingent fee basis. We will not charge you a penny to represent you until we collect for you. Then we will be compensated on the basis of the amount of insurance we obtain for you. Call us today at 1 800 Lundy Law to understand your rights and the terms set forth in your policy. At Lundy Law a consultation and review of your policy is always free.
Call 1 800 Lundy Law today.