COVID-19 Business Interruption Insurance Claims
As COVID-19 continues to affect countries around the world, more and more businesses in the US are finding themselves faced with unexpected losses and significant disruptions to their cash flow. Although many companies have business interruption coverage, insurance carriers are reluctant to cover claims resulting from business interruption due to COVID-19. It is very important not to give up just because your insurance broker or adjuster disclaimed coverage for COVID-19 business interruption due to a virus exclusion in your policy, physical damage requirement, or for any other reason. Insurance brokers and claim adjusters don’t work for you, their goal is to protect the interests of their insurance companies, not yours. If your claim for business interruption due to COVID-19 was denied, underpaid or delayed our team of experienced business insurance lawyers can help you obtain the maximum compensation you are entitled to.
WAS YOUR COVID-19 BUSINESS INTERRUPTION CLAIM DENIED?
Most insurance companies are using the same tactics that they use following every major disaster – first deny then delay. When insurance companies deny coverage for COVID-19 business interruption claims they know that a certain percentage of business owners who filed those claims will give up and not pursue them further. Every claim that is not pursued means money saved for the insurance company. Currently insurance companies are in a denial stage and almost every COVID-19 business interruption claim in this country is being denied. Many businesses owners will give up and this is exactly what the insurance companies hope for. Our law firm can assist you with filing a claim for COVID-19 business interruption or take over your already denied insurance claim. We do not charge any upfront fees and handle all COVID-19 insurance claims on a contingency basis – meaning we only get paid if we get your insurance company to pay you. Let our team of experienced business insurance attorneys handle your COVID-19 business interruption claim from the beginning. It is crucial that your insurance claim is properly filed within a time frame provided by your insurance policy. Failure to properly and timely file your claim can prevent you from getting reimbursed by your insurance company.
VIRUS EXCLUSION IN YOUR POLICY IS NOT A GAME OVER.
We hear from many clients that their insurance brokers discourage them from filing insurance claims due to the so-called virus exclusions in their policies. COVID-19 is a novelty issue for our court system. As of this day there hasn’t been a single COVID-19 related lawsuit in NY, or anywhere else in the US, in which a court would apply a virus exclusion in favor of an insurance company. But there have been thousands of cases when courts ruled in favor of insurance companies because plaintiffs failed to properly and timely file their claims. Don’t miss your opportunity and time frame to file a claim. Properly filing your claim preserves your legal rights and gives you an opportunity to fight for your rights. Even the simplest business insurance policies are 150 to 200 pages long documents. Often times there are exceptions to exclusions or limits on when exclusions apply. Our law firm successfully settled cases with insurance companies on insurance contract technicality issues, even when our clients’ insurance policies had exclusions that were not in our clients’ favor. In addition many state governments including New York’s have indicated that they may weigh in on the virus exclusions as they apply to COVID-19 related insurance claims (Proposed NY State Bill, Proposed NJ Bill, Proposed Ohio Bill, Proposed Massachusetts Bill). Don’t wait until it’s too late! Contact our law firm today and one of our business insurance attorneys can assist you with handling your COVID-19 business interruption claim every step of the way.
WAS YOUR BUSINESS AFFECTED BY COVID-19?
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