The impacts of COVID-19 are still being felt globally. Millions of people have been infected with the virus in America alone, and most states are still in some degree of lockdown, causing countless businesses to remain closed or operate in a limited capacity. In April, CNBC reported that more than 7.5 million small businesses were at risk of closing due to the pandemic, and more than 100,000 had already shuttered by early May.
Many business owners purchased business interruption coverage insurance policies to provide a replacement income in the event that they were forced to close for an extended period. The COVID-19 pandemic certainly fell under that umbrella, but many business owners were shocked to find out that their business interruption claims were denied.
To make matters worse, many of the business interruption insurance policies didn’t contain any language excluding viruses, and yet their insurers denied their claims anyway. At Ferrer Poirot Feller Daniel, we aren’t surprised by this. In fact, it’s business as usual for many insurance companies, who promise one thing and do another when push comes to shove.
If you own a business that has seen a drop in revenue due to COVID-19 and your insurer is refusing to pay you the business interruption coverage payments you’re owed, our legal team wants to speak with you. Contact us today for a free consultation. You need an experienced and aggressive law firm on your side, and that’s exactly what we bring to the table.