The COVID-19 outbreak has had a devastating impact on numerous business industries. Many businesses have closed, or will, in response to the COVID-19 pandemic, and it is not surprising that thousands are filing business interruption claims with their insurance companies across the United States. Many insurers are denying these claims as a matter of course, citing numerous policy exclusions. Here, the qualified business law attorneys at Snee, Lutche, Helmlinger & Spielberger, P.A. discuss how insureds are challenging the insurance company’s blanket denials by filing lawsuits.

Understanding Differences in Business Insurance

Several states have proposed legislation seeking to force insurers to cover COVID-19 related business interruption claims. State Insurance Commissioners have also taken action to address insurance coverage issues and COVID-19. The purpose of business interruption insurance coverage is to provide insureds protection against loss of income from interruption of their business operations from an unforeseen event. The goal is to place the insured in the same financial position as they would have been before the unforeseen event. There are generally four types of business interruption insurance, including:

  •  Business Income Coverage;
  • Extra Expense Coverage;
  • Contingent Business Interruption Coverage; and
  • Civil Authority Coverage.

How the Business Law Attorneys at Snee, Lutche, Helmlinger and Spielberger, P.A. Can Help

The qualified attorneys at Snee, Lutche, Helmlinger & Spielberger, P.A. believe that the insurance industry needs to be held responsible for erroneous denials of coverage. If your company has submitted a claim and been denied, or if your company has not yet submitted a claim to your insurance carrier, let us help you get the compensation you deserve for the mandated business interruption. To see how our attorneys can help you, contact our Harford County office today.