Ramapo, NY Business Interruption Insurance Lawyer
Sudden, catastrophic events like the 9/11 Terrorist Attacks, Hurricane Sandy, and the Coronavirus Pandemic have enormous consequences for millions of Americans and the businesses that employ them. Comprehensive business insurance policies serve to mitigate the risk, should the unthinkable happen. However, there is some confusion as to what business interruption insurance does or does not cover – and that confusion has made its way all the way to New York courts with a surge of recently filed lawsuits.
Call the Ramapo business interruption insurance lawyers atDouglas and London for a free policy review. If possible, we’ll negotiate a quick settlement on your behalf. If the insurer continues to balk at paying what is owed as per your specific policy language, we have the resources to take your claim to court on a contingency basis – meaning you pay nothing for our services unless we recover on your behalf.
Do You Have a Valid Business Interruption Insurance Claim?
A Douglas and London business interruption insurance attorney will need to read your exact policy to let you know for sure whether your claim for compensation is legally defensible or not. Generally speaking, business interruption insurance is supposed to cover losses and help make your business “whole” again following property damage caused by wind, fire, falling objects, lightning, hail, or theft.
Business interruption coverage would then kick in to reimburse business owners for lost income like destroyed merchandise and actual losses sustained (revenues minus ongoing expenses). Extra expenses like temporary relocation would also be covered by business interruption insurance, while the primary business owners’ policy would cover repairs to the damaged property.
Are Civil Authority Closures Covered Under Business Interruption Insurance?
Many commercial insurance riders have a “civil authority” provision, providing special additional coverage that reimburses business losses caused by government-ordered shutdowns. This coverage typically kicks in when there has been physical damage to utilities or neighboring businesses. Triggering events could be fires, hurricanes, floods, riots, or civil unrest.
Are There Any Exclusions to Business Interruption Insurance Coverage?
It’s common for insurers to write exclusions into their policies, prohibiting coverage for:
- Undocumented income
- Lack of physical damage
- Partial closure losses
- Power outages
Civil authority coverage may require physical property damage to go into effect. Does surface-level contamination by COVID-19 count as “physical property damage?” This question is up for debate!
A policy may also include specific exclusions for communicable diseases. For instance, one exclusion written into a Liberty Mutual policy held that they would not pay for loss or damage arising from “the presence of any virus, organism, or like substance that is capable of inducing disease, illness, physical distress or death, whether infectious or otherwise, including but not limited to any epidemic, pandemic, influenza, plague, SARS, or Avian Flu.”
Most policies include much more vague language that is open to interpretation by the courts. A free consultation with a business interruption insurance lawyer will take up just a few minutes of your time and let you know whether you have a strong case or not.
What Can Ramapo, NY Business Interruption Insurance Lawyers Do for You?
Douglas and London can:
- Review what your policy does or doesn’t cover and explain your legal rights as a policyholder.
- Negotiate a settlement with your insurance company when possible.
- Represent your claim in court before a judge and jury to defend your right to reimbursement.
- Put a temporary halt on creditors who are after you for money while the claim is pending.
For more than two decades, our skilled team of legal professionals has gone up against tough, deep-pocketed defendants like insurance companies, automotive manufacturers, and Big Tobacco. We have the resources to take your case on a contingency basis and win. Contact us for your no-obligation case evaluation today.