Businesses Should Receive Coverage During the Pandemic
The COVID-19 pandemic has caused unparalleled losses for many businesses, resulting in a significant number of business interruption claims. Unfortunately, a considerable number of insurance companies have denied business interruption claims citing that the COVID-19 pandemic and subsequent shutdowns are not covered perils.
Recently, President Trump weighed in on the issue stating his support for businesses affected by the coronavirus. On April 10, 2020, at his daily press briefing, President Trump said that insurance companies should pay out on business interruptions claims even if coverage for a pandemic is not explicitly included in the policy. As reported by CNN, Trump stated:
“You have people that never asked for business interruption insurance (payouts), and they’ve been paying a lot of money for a lot of years for the privilege of having it. And then when they finally need it, the insurance company says ‘we’re not going to give it,’ We can’t let that happen.”
President Trump is not alone in his assertion. According to Business Insurance, lawmakers in several states have introduced bills that “would force insurers to retroactively cover business interruption claims due to COVID-19.”
Trump’s comments come as lawsuits are being filed across the country and lobbyists pounce on Washington. As noted by the Washington Post, this is a “multibillion-dollar standoff.” According to their reporting, many policies did not exclude the outbreak outright, and thus “the exclusions have come as a shock to the scores of companies whose claims have been denied in recent weeks.”
If you have been denied a business interruption claim related to the COVID-19 pandemic, you may be entitled to damages. At Fibich, Leebron, Copeland & Briggs, we are here to help your business through these challenging times. We are experienced trial attorneys that are dedicated to representing businesses who have lost revenue and incurred expenses, but have been wrongfully denied coverage by their insurance company.
Contact our office today at (713) 322-5659 or contact@fibichlaw.com to determine your legal options and to get the help you need.
