Business Interruption Coverage: What to Know

As the current public health crisis continues to force many businesses to remain closed, business owners are left struggling with how to pay employees, bills, and other commitments. While the federal government is working to help many companies, many are searching out additional ways to stay afloat, including looking to their insurance companies for help.

Many business insurance policies include coverage for losses due to business interruption, so businesses may be able to file a claim. Yet every business insurance policy is different, so it takes a thorough understanding of the policy language to know whether you might qualify for recovery. If you’re investigating your own policy, consider the following:

1.     Ask for a full, certified copy of your policy in writing rather than reviewing the summary or partial version you often receive after signing up with the company. A certified copy should include all clauses, provisions, exceptions, and limitations.

2.     Review your policy for specific types of coverage and for triggering language. Your policy might specify certain types of coverage, including payroll, business interruption, civil authority, etc., and it should also include language that explains what causes or triggers coverage.

3.     Talk to an attorney who specializes in insurance law.

There are increasing pressures on insurance companies to honor their business interruption insurance claims. Recently, even President Trump urged insurers to consider honoring these policies. However, insurance companies may vary in how they decide to honor and handle these claims, so you should be prepared for a variety of responses, including the denial of coverage.  

Attorneys at Keating Wager are among the most experienced in the state in prosecuting claims against insurance companies. We have recovered tens of millions of dollars on behalf of businesses and individuals whose claims were wrongfully rejected by insurance companies. We help our clients obtain the insurance benefits they deserve while maximizing their total recoveries.

If you or your business has been impacted by the COVID-19 crisis and believe you may have insurance coverage for your loss, call us. We are available for an initial consultation regarding your claim at no cost, and we offer differing fee arrangements to fit our clients’ needs.