Nassau County Business Interruption Insurance Lawyers
You trusted that your commercial insurance policy carrier would have your back if something happened, and your business was interrupted due to circumstances beyond your control. Nothing prepared you for the devastation of the pandemic but finding out your insurer refuses to cover pandemic-related claims is just as catastrophic.
No matter what your insurance agent tells you, it is imperative that you file a business interruption (BI) insurance claim right away even though it will be denied. The formal denial is required for you to pursue litigation.
Whether you have a case for coverage depends on the language in your policy. These documents often run for 150 pages or more, and you need a professional to determine what the policy does or does not cover or how specific wording may help your claim.
After reviewing your policy, a Nassau County business interruption insurance lawyer at Douglas and London will advise you of your options. That may include joining a class-action lawsuit.
Business Interruption Insurance
The language in most BI insurance policies refers to interruption resulting from physical damage to the building. This is generally caused by a fire or a natural disaster. Many policies exclude business interruptions resulting from viruses and similar microorganisms.
The policies list what is and is not covered. Since the language is often complicated, your losses may be covered under some aspect of the policy. For example, many include coverage for business interruption caused by closures ordered by civil authorities. A pandemic was not the intention of such closures — but there is no question civil authorities made this decision.
The coronavirus crisis and its impact on businesses have prompted legislation in New York and other states requiring that insurance carriers cover certain perils during the Covid-19 state of emergency. None of these bills have yet become law, and insurance companies are fighting their passage. However, potential legislative changes could be on the way.
Under New York’s proposed bill, insurers are voided from excluding losses based on the virus. Criteria would include a policy in force as of March 7, 2020, and covering business interruption. Only those insureds with less than 250 eligible employees, those working 25 hours or week or more, would qualify under this bill.
Contact our Nassau County Business Interruption Insurance Lawyers
A Nassau County business interruption insurance attorney at Douglas and London can help you obtain the compensation you deserve in these uncertain times. A careful reading of your policy may find coverage available for supply chain loss or civil authority actions. Free, confidential consultations are available by calling or texting us 24/7 or filling out our online form.
We can advise you on business loss documentation and will keep you informed about any changes in legislation regarding coronavirus business interruption insurance coverage. The dedicated attorneys at Douglas and London have recovered more than $18 billion for clients in settlements and verdicts. You do not pay a fee unless you receive compensation.