Your Business May Be Owed Insurance Money
Business interruption coverage insurance policies provide compensation for businesses when their customers’ access to them is limited or denied. COVID-19 has changed the face of our country, and that constitutes a danger that has closed most businesses.
Depending on the type of policy purchased, epidemics and pandemics may be specifically excluded from coverage. However, many small business owners are now discovering that the insurance policies they’ve paid into for years are denying claims for coverage after COVID-19 Stay-at-Home orders prevented customers from reaching their businesses, even when their policies have no language excluding viruses.
Recent statistics suggest that American small businesses are collectively losing between $255 billion and $431 billion per month* due to COVID-19 closures. The entertainment, hospitality, and food and beverage industries have been hit especially hard.
When the livelihoods of thousands of small business owners and their employees are at stake, insurers can’t be allowed to push innocent claimholders around.
Furthermore, several states, including Louisiana, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and South Carolina are now introducing legislation that could force insurers to cover COVID-19 business interruption claims, even those with language in their policies excluding viruses from coverage.
Unfairly Denied Coverage? Contact Our Business Insurance Claim Attorneys.
If you submitted a claim for COVID-19 business interruption compensation and were denied, your insurer may not only be acting immorally, they may also be acting illegally.
The attorneys at Ferrer, Poirot, & Wansbrough are working on behalf of clients whose business insurance claims were wrongfully denied. We can help you examine the terminology of your specific policy, document your losses, file all appropriate paperwork promptly, and fight for your rights to the compensation you need.
We aren’t afraid to take on big insurers to help our clients get the money they’re entitled to receive. Contact us today 24/7 for a free case review.
*Source: Chicago Tribute, April 16, 2020