fbpx

The Five Most Important Questions to ask about Business Interruption Coverage

Q. Am I covered for a COVID-19 loss under my commercial insurance policy?

A. Much depends on how your policy is written. There are inclusions, exclusions and language which suggests that you’re covered under certain circumstances but not others. You can read the policy on your own, but it’s better to have an Insurance Litigation Group (ILG) attorney read it with you. That trained individual can draw upon the law firm’s in-depth knowledge of business interruption insurance and legal interpretations of insurance policies. That lawyer is equipped to explain your coverage and your options.

A policy may have an exclusion for pandemics, even specify viruses. That is not an ironclad statement. An experienced ILG lawyer will read the entire document for sections that may be unrelated to a pandemic and still qualify your company for benefits related to the economic damage that it has done.

Q. What can I claim under my policy?

A. Benefits vary by policy and very often by industry. For example, hotels and health care organizations often have special provisions in their policies for pandemics. Here are some of the losses you can claim. Working with your business advisors, the attorneys at Insurance Litigation Group may find others:

  • Lost business income
  • Employee salaries
  • Lease payments or, if a property owner, lost rental income
  • Loan payments
  • Expenses of operating from a temporary location and advertising announcing the move location.
  • Inventory losses
  • Supplier payments
  • Taxes and utilities

 

Q. My insurance company tells me that without physical damage I don’t have a valid claim. Why is that?

A. Many policies are written with other natural disasters in mind. Business interruption insurance covers expenses and lost income for the time the business is closed because it’s not safe or practical to operate it.

Courts have interpreted the term “physical damage” to include more than a physical event such as a fire. State and local government orders can cause financial damage. Our Insurance Litigation Group attorneys can draw upon the many court rulings that have expanded the definition of physical or direct loss to include more than just the obvious qualifications such as damage from a natural fire. They can seek benefits for losses that resulted from the presence of COVID-19.

Q. My claim was rejected. Is there anything I can do?

A. Yes. You can sue on the denied claim, pressing the matter in court if necessary. The insurance company does not have the last word; the justice system does.

Your next step depends in part on your policy and in part on what the courts have said about policies like yours. Insurance policy lawsuits related to natural disasters such as SARS and Hurricane Katrina have produced court rulings that can work in your favor. An attorney at the Insurance Litigation Group will review your policy for free to determine what steps you can take.

Q. Let’s say we sue. How long will it take to collect?

A. ILG will seek to settle the case fairly and as quickly as possible. We realize that the pandemic has already strained your corporate finances. We will actively negotiate with the insurance company even as we move forward with the lawsuit. Courts set calendars for hearings and trials, so when a final judgment is handed down depends on many factors, including a judge’s caseload.

A big unknown right now that may work in our favor is that many other businesses will also be filing court claims to recover damages related to their policies. Depending on the circumstances, the insurer will be may be more willing to settle to reduce the number of pending cases.

What Our Clients Say

“We were so tired of non-returned phone calls from our insurance company. Their claim to having sent payment when they hadn’t was ridiculous. We had spent 6 months trying to resolve with no luck. We called Insurance Litigation Group and they resolved our claim simply and professionally.” 

G. Monin

“Thank you for your swift attention to my case.  Everything ran smoothly.  They gave me multiple options and always answered the phone!”

M. Close

“Excellent law firm if you are having trouble getting your Florida homeowners insurance company to pay your hurricane claim fairly. They have an excellent reputation in the panhandle and throughout Florida.” 

A. Fiske

“Best law firm to deal with Hurricane Michael  home insurance disputes. They understand how to maximize your insurance payout when dealing with insurance adjusters and claims departments. Highly recommend.”

I. Britton

“We hired ILG when our public adjuster could push no further with our insurance company to get our claim settled after Hurricane Michael and he advised us to file a lawsuit. We recently settled and received our final payment checks a couple of days ago. My husband and I are very pleased with the results. ILG did a great job for us. Thank God for people like this to help homeowners when insurance companies don’t want to pay out after a disaster! I highly recommend ILG.”

J. Moore

“I was very happy with the time and work that ILGpa did for me. Without their help I would not have the positive results that I received. Thank you so much for your help. I would recommend this group to anyone.”

M. Loranger

Our Offices

We are a client-focused law firm that fights aggressively on behalf of residential and commercial policyholders, contractors, restoration and mitigation companies, to produce maximum recovery results from insurance companies through our unique expertise, deep understanding of insurance law, cutting edge technology and proactive approach to litigation.

Insurance Litigation Group serves clients across the state of Florida. With over 7 offices statewide, our attorneys have the knowledge, skills and experience to resolve your dispute against the insurance company. 

By Appointment Only*

Contact Us

Contact us today about your situation so we can fight to get you paid. We can assist you in any coverage dispute, disagreement over liability or damages, or related matter.

Translate Page »