Danbury, CT Business Interruption Insurance Lawyer
The Coronavirus pandemic has negatively impacted countless businesses in Danbury, Connecticut and the greater NYC metropolitan area, forcing many to the brink of closure. When a disaster like a global pandemic strikes, business owners turn to their commercial property insurance policies to find relief for revenue losses due to business interruption. Unfortunately, the majority of business interruption claims have been denied or delayed on the pretext that COVID 19 does not “qualify” as a covered peril, or the presence of policy exclusions on communicable diseases and viruses.
Even if your insurance adjuster or broker told you that you could not claim COVID 19 BI coverage based on your policy language, you do not have the accept this denial at face value. Speak to a business interruption insurance lawyer at Douglas & London today. Our skilled attorneys have decades of experience handling complex insurance disputes, obtaining favorable results for our clients. We are well-versed in the defenses and strategies used by multi-million-dollar insurance companies to refute legitimate claims and have the resources to help business owners obtain the insurance benefits they rightfully deserve.
If your claim for business interruption insurance was wrongfully denied, or you need assistance evaluating your current business interruption policy, we encourage you to reach out for a free, no-obligation case review. If litigation is warranted because of bad faith, unfair practices, or breach of contract, our Danbury business interruption insurance lawyers can file a claim on your behalf.
BI insurance to cover pandemic losses
Whether in hospitality, travel, or retail, businesses often purchase commercial property insurance that includes coverage for business interruption. These policies usually cover the “direct physical loss” of buildings and real property because of a natural disaster or peril.
For example, if an insured restaurant burns down in a fire, the commercial insurance policy would pay to restore it. The restaurant’s business interruption coverage would also kick in to cover lost income and revenue as the facility was being rebuilt.
A policy for business interruption can also cover other losses incurred while operations are stalled, including:
- Reimbursement of lost profits
- Losses resulting from damage to a supplier
- Expenses of relocating to a temporary new location
- Employee wages
- Loan payments
- Fixed operating costs
The global pandemic may be unprecedented, but do not let policy wording stop you from seeking the insurance benefits your company deserves. The COVID-19 outbreak, coupled with shelter-in-place orders and government-ordered closures, have caused billions of dollars in business interruption losses, and litigation may ultimately pave the way for companies to finally pay out on these claims.
Danbury, CT business interruption insurance lawyers
Douglas & London is currently reviewing denied claims for COVID-related business interruption losses. If you’ve been told your policy does not recognize the pandemic as a covered loss, reach out for a confidential consultation.
Insurance contracts are often lengthy, complex documents. A qualified business interruption insurance attorney at our firm can decipher the language in your policy and help you seek legal recourse where appropriate. Call today to discuss your options with Douglas & London.