Bronx Business Interruption Insurance Lawyers

When calamity strikes, businesses believe they can rely on their commercial property insurance coverage. Unfortunately, business owners throughout the city– and nationwide– are discovering that their insurance carriers are refusing to honor claims relating to pandemic-related business interruption. Keep in mind that just because your insurer states that Covid-19-related claims are not covered does not mean that is the final answer.

Like so many others, you worked hard all of your life to build your business. Now, you are afraid it will slip away without compensation from your insurer. You thought you could trust your insurance company because you held up your side of the contract by faithfully paying your premiums.

A Bronx business interruption insurance lawyer at Douglas and London can help in this challenging and rapidly changing time. Our track record speaks for itself– our experienced attorneys have recovered more than $4 billion in verdicts and settlements for clients. 

File the Claim

No matter what your insurance company told you about denying coronavirus-related business interruption coverage, file your claim as soon as possible. There are strict time limits, and you need proof that the claim was filed and denied.

Business Interruption Insurance

Business interruption insurance is designed to cover the following types of losses:

  • Employee payroll
  • Loss of income
  • Mortgage or rent
  • Operating expenses
  • Taxes

Business interruption insurance covers physical damage to the premises, which prevents access. A typical example is the aftermath of a fire or severe storm. Insurance companies are denying coronavirus claims because there is no property damage associated with the event, even though the business cannot operate.  

While New York State, along with several others, has introduced legislation to extend business interruption insurance to cover the coronavirus, none of those bills have passed to date. The New York bill is limited to those companies with fewer than 100 eligible employees as of the effective date. The dates run from March 7, 2020, when Governor Andrew Cuomo officially declared a state of emergency, until it is over.  

The Policy

The wording in your policy is paramount. Many policies specifically exclude damage resulting from viruses, bacteria, and other microorganisms. Those provisions were added to policies after the SARS epidemic.

Most policies include coverage when business interruption is due to closure by civil authorities. While civil authorities did mandate the pandemic closures, there is still isn’t property damage per se. However, there are strong arguments that the need for reconfiguring a property to comply with social distancing regulations and ongoing sanitization constitutes a form of it.

Commercial business insurance policies may run between 100 to 200 pages. A determination of what the insurance company may owe you is best determined after an analysis of the document by qualified professionals.

Contact our team of Bronx Business Interruption Insurance Lawyers

The pandemic is the most difficult situation many businesses have ever experienced. If you were denied business interruption coverage by your carrier due to the coronavirus, obtain legal counsel as soon as possible.  A business interruption insurance attorney at Douglas and London can review your policy in detail and will let you know your best options. We offer confidential, free consultations. Set up an appointment by calling or texting 24/7 or submitting our online form.