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Business Owners’ Frustrations with Insurers over Business Interruption Coverage

Business Interruption insurance protects against economic losses resulting from a business’s inability to put insured property damaged by a covered peril to its normal use. This insurance typically will cover for loss of revenue that would have been earned had there been no business interruption.

Understanding business interruption insurance

Your business interruption insurance policy should list or describe the types of events it covers for your business. It is important to review the policy, exclusions, coverage limits, and applicable deductibles; an attorney can help you navigate those questions, with a free evaluation of your policy.

It is also important to determine if the policy requires the business interruption to last for a certain period of time before you are entitled to any policy benefits. Because coverage varies across policies, you will need to read your policy and consult your broker or insurer or its agent for more information. Again, an attorney can help you with all of that at no charge to the business owner.

How does my business interruption insurance policy treat the novel coronavirus (COVID-19)?

It is very unlikely that the insurance company has something specifically for the coronavirus. However, an attorney can help you check to look at your policy’s “virus exclusion.”