Business Interruption Insurance Claims Attorneys

Business interruption insurance is put in place to protect you from loss of income when there is a direct physical loss or damage to a covered property. But this present crisis has seen how insurance companies even in our area are trying everything in their power to label a pandemic as an exclusion and outright deny or severely underpay business interruption insurance claims. This is where our team of dedicated attorneys can help hold the insurance companies accountable for fair payments on valid claims.

Speak to an Experienced Business Interruption Insurance Claims Attorney Now

What to do When Your Insurance Company Denies Your Business Interruption Loss Claims Due to COVID-19

This fight is something our team has taken on to help the multitudes of small business owners in our area that are desperately hurting right now and who thought they had insurance to cover losses such as these. When your insurance company doesn’t present a fair offer and you need to take action against them, this is called a first party claim

With first party claims, you are dealing with your own insurance company. Even though you’ve paid your premiums every month, the insurance company refuses to give a fair offer for your business interruption loss claim. We’ve heard of insurance companies delaying in communications or even ignoring policyholders altogether, especially after a claim has been denied.  

So, what do you do when you feel your claim wasn’t fairly evaluated?

 Gather all the information you can –  correspondence to/from the insurance company, a record for your demonstrable losses, and a copy of your policy are all good places to start.

  1. Act quickly. There may be certain deadlines in place that dictate how much time you have to file your claim against the insurance company. 
  2. Contact our team however is convenient. Our firm has adopted COVID-19 safety measures and can meet with you virtually, by telephone, email, or chat session to start outlining your case. We’ll go over all the information you provide and can help you understand the path forward.
  3. Let an experienced business interruption attorney represent you. Our team takes on the burden of contacting your insurance company and negotiating on your behalf towards a fair settlement. If the insurance company won’t deal fairly, we’re wholly prepared to take them to court. We’ll cover all of the upfront costs and, in fact, you pay us nothing unless we are successful. 

How Insurance Companies are Using Exclusions to Deny Business Interruption Claims

Insurance companies usually do a great job of highlighting everything they’ll cover for you whenever a calamity strikes. When something completely unexpected blindsides your business like COVID-19, you may take comfort thinking you’re covered so you file a business interruption claim with your business insurance provider. 

Sadly, the insurance companies are quickly jumping to their exclusions section and saying that COVID-19 and any events that happen as a result aren’t covered because of the policy’s fine print. In fact, Travelers Insurance recently released a public notice letting their policyholders know that certain events like adverse market conditions, economic slowdowns, and/or general fear of contamination as a result of COVID-19 aren’t covered because a virus isn’t a direct physical loss

Nor, they say, are they responsible when your business is shuttered, events cancelled, or your industry is essentially shut down because of the virus. Business interruption insurance is supposed to provide assistance when your business is interrupted, right? Well, the insurance companies don’t see Coronavirus that way and are working hard right now to skirt their responsibility to help their policyholders affected by the pandemic. 

Getting a Fair Shot at Compensation for Your Business Interruption Insurance Claim

It makes our blood boil as insurance giants rake in billions in profits and then fail to present a fair offer on a claim for a small business owner. Policyholders are made to believe they have the tools in place to protect their business, only to find they’ll have to fight tooth and nail whenever they need to file a claim. Simply put, we don’t think that’s fair. We love this community, the people here are friends, family and neighbors. With so many people in our area hurting, we knew we had to do something to help. 

Contact a business interruption attorney now to review the details of your business interruption insurance claim. From there, we’ll help navigate the legal waters towards seeking maximum compensation for your claim.