Queens Business Interruption Insurance Lawyers

In the midst of a pandemic, which is threatening your livelihood, you thought you could rely on your commercial property insurance’s business interruption coverage. Now you discover that your insurer denies your coronavirus-based claim.

You are not alone. Across the city and the country, many business owners are finding that insurers are denying business interruption claims based on the pandemic. Many policies exclude claims relating to viral or bacterial spread. Such exclusions result from the SARS outbreak in the early 2000s.

A Queens business interruption insurance lawyer at Douglas & London could review your commercial insurance policy to determine whether your claim is specifically excluded. We will work with you regarding joining class-action lawsuits or negotiating with your insurance company based on the wording of your policy and your specific circumstances.

Business Interruption Insurance

Business interruption insurance is designed to cover a company’s loss of income after a disaster. Exactly how disaster is defined in the policy will make a big difference in your claim. Some policies define it vaguely, which is an advantage in this situation.

This type of insurance, often standard with commercial insurance packages, replaces lost business income due to a fire, storm, or other issue prohibiting access to your business. The policy will state that physical damage is required for payment eligibility. The lack of physical damage due to coronavirus is another argument insurers are making in claim denial.

Keep in mind that everything depends on your policy’s verbiage. The details are what matter in your claim. In addition, you should also document all of your losses thoroughly. Itemize your expenses and income and compare them to the previous few years based on the same period. This gives you a grasp of your total losses.

A State of Flux

The pandemic has thrown insurance regulation and law into a state of flux. New York is joining other states in putting forth legislation to help businesses deal with insurance claims due to Covid-19.

A bill currently before the state legislature would require insurance companies to cover “certain perils” under business interruption insurance– if coronavirus-related. If passed, the act is in effect immediately and applies to any policies “in full force and effect on and after March 7, 2020.” However, the bill faces stiff opposition from insurance companies, and thus there are no guarantees. 

Contact our team of Queens Business Interruption Insurance Lawyers

The pandemic has changed so much in our lives in a relatively brief period. If your insurance company denied your business interruption claim, seek prompt legal advice. After reviewing your policy, a business interruption insurance attorney at Douglas & London will advise you on the next steps to take.

Arrange a free, confidential consultation by calling or texting us 24/7. You can also complete our online form. Our experienced attorneys have recovered more than $18 billion for clients in verdicts and settlements. There is no fee unless you receive compensation, as we work on a contingency basis. Hablamos Español.