Business interruption insurance coverage generally applies to direct interruptions to a company’s operations caused by property damage, such as a fire, flood or similar event. Thus, business interruption coverage typically can only be triggered if you have property loss that leads to the business interruption. Additionally, many insurance policies contain express exclusions for virus- or pandemic-related losses. BUT even these facts do not mean that your coverage will not apply to compensate you for your business losses including business in come.
The attorneys at Fisher Injury Lawyers have seen this before. After the September 11 terrorist attacks, the insurance industry bore massive losses due to the attacks and subsequently stopped or limited its offerings of insurance coverage for terrorism. In response, the Terrorism Risk Insurance Act of 2002 was passed, which mandated that insurers provide terrorism coverage and provided a federal backstop to insurers for particularly large attacks. Something similar and better is happening now.
State legislatures are under increasing pressure to act to compel insurance carries to cover COVID-19 related lassoes irrespective of policy exclusions. In fact, New Jersey has introduced a bill to unilaterally alter the terms of all existing business interruption policies to include COVID-19 related losses. Other states are certain to follow as is all encompassing Federal legislative action. In fact, several members of the U.S. House of Representatives have signed a letter asking insurer trade groups to recognize COVID-19 losses as included under policies’ business interruption coverage. So there is hope on the horizon although the insurance companies will fight the legislation and every claim on these policies. That is where we come in.
The attorneys at Fisher Injury Lawyers have extensive experience fighting for insurance coverage. It is part of our every day practice of law and we are very good at our jobs. Indeed, Bryan Fisher is considered a leading expert and litigator in certain insurance coverage litigation including NCAA disability insurance coverage and NFL disability coverage. He and the entire Fisher Injury Lawyers are experienced, informed and aggressive in pursuit of insurance coverage, even in these challenging times and circumstances. Call us any time. We have been there…and won.