Insurance companies advertise that their mission is to protect your business in times of natural disaster, unforeseen circumstances and other unfortunate events that negatively affect your business operations. Catastrophic occurrences such as the Coronavirus (COVID-19) outbreak of 2019-2020 and its resulting business impacts would certainly appear to be the types of losses covered by most commercial insurance policies. Other widespread disasters such as hurricanes, floods and wildfires have resulted in the payment of billions of dollars in business interruption, commercial liability and other property and business owner/operator claims. It is estimated that business-related insurance claims resulting from the Coronavirus (COVID-19) pandemic in the United States could reach more than $800 billion.

Unfortunately, the same insurers that claim to protect your business in times of crisis such as the Coronavirus (COVID-19) outbreak have repeatedly denied coverage to insureds for business interruption and other related financial losses caused by these types of damaging events. Other times a delayed or underpaid claim can have an equally detrimental business impact. This failure of the insurance industry to honor their obligations has pushed many businesses to the brink of financial ruin and has caused distrust and frustration on the part of business owners who faithfully paid their insurance premiums in case of an event such as the Coronavirus (COVID-19) outbreak.

Virtually all businesses throughout the United States are susceptible to sustaining a business-related loss due to an unforeseeable event including:

• Restaurants
• Bars & Nightclubs
• Retail Establishments
• Professional Services Organizations
• Gyms & Fitness Facilities
• Industrial Complexes
• Salons & Barber Shops

Although General Commercial Liability insurance policies are most frequently invoked during times of an unplanned business interruption, coverage can be implicated under other types of insurance contracts as well. In the case of a residential or commercial landlord, tenant interruption insurance may offer relief from lost rental revenues during times of an unexpected financial disruption. In other instances, the actions or inactions of an authorized agent or representative during a disastrous occurrence may have resulted in a loss to your business. In this case, Errors and Omissions insurance coverage may offer relief.

If your business has experienced a financial loss due to the Coronavirus (COVID-19) or any other disruptive event, and if you are considering filing a business interruption claim or have filed a claim that was denied, delayed or underpaid by your insurance company, please contact our law firm for help. You may be entitled to significant financial compensation for your business losses. Contact us today for a free consultation.