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Business Interruption Insurance FAQ

Labovick May FAQ 3

If your business has experienced the loss of revenue due to the coronavirus global pandemic, you have a business interruption insurance policy and your insurance company is not assisting you, you may have a business interruption claim. Your business deserves to be able to count on that insurance. Don’t be surprised if your insurance company fights you and doesn’t easily come to your rescue.

We recommend that to begin, you first read your policy. Really read through your policy to determine which type of coverage you’ve purchased. Insurance is a hedge against unexpected losses, but policies may be hard to understand or ambiguous when the cause of injury (i.e. natural disaster, global pandemic, etc.) is unprecedented. Also, insurance policies must be written clearly — if it is too difficult to comprehend, that will work in your favor, as the insurance companies know the policies are meant to actually be understood by the policyholders.

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