The recent suspension of Florida businesses due to the Coronavirus (Covid-19) may give rise to many Florida business interruption claims. A typical business policy can carry these types of Business Interruption coverages:

• Florida Business interruption:When your business suffers damages and you are required to close your operations, business interruption covers your loss of revenue and continuing and additional expenses.
• Florida Extended Business Interruption: Coverage for a limited time, income that is lost after the property is repaired but before the income returns to its pre-loss level.
• Contingent Florida Business Interruption: Coverage for the income that was lost due to physical damage, not to its property, but to the property of providers or suppliers.
• Florida Event Cancellation: Coverage when you have postponed or cancel events, due to damages to your property. You might be able to recover ticket prices, vendor reimbursement, and lost revenue.

The insurance company may take the position that business interruption coverage was not meant to cover governmental shut down due to the fear of the spread of the corona virus and likely deny the claim.  The insurance company may argue that since there was no physical damage to the property, the damage is not covered.  They will assert that the viral and bacterial exclusion applies to the loss.

Having someone on your side that understands your policy and coverages for Business Interruption Claims is critical.  If you have questions about your claim as related to the Coronavirus or Covid-19, give us a call at (407) 733-9997 and understand what’s in your policy.

A claim for business interruption may still be covered under several policies, depending on the circumstances and the language of the policy.  First check the declaration page to see if there is a limit of business interruption coverage. Then check to see what type of business interruption coverage exists and if there is coverage for an interruption based on civil authority. Based on the policy language, you can argue that physical loss is not required, and that the business interruption is due to the suspension of the business based on the Governor’s orders.   Legal experts are stating that the virus/bacterial exclusion only applies to actual physical damage to inventory of the business or contamination of the building itself.

If the business has an all risk policy coverage (instead of a named peril policy), then the argument is stronger that the loss was due to a covered cause of loss. The policy endorsements need to be checked to see if the time period covered is reduced from four consecutive weeks to three. Depending on the type of business, you should check to see if there is Dependent Property coverage which covers loss due to the inability of a supplier to get materials to the insured business.

Understanding Business Interruption Claims is critical.  If you have questions about your claim as related to the Coronavirus or Covid-19, give us a call at (407) 733-9997 and understand what’s in your policy.

Call Labrador Claims at 407-733-9997 for a FREE consultation, if you have sustained loss of revenue because of the Coronavirus or any other event.  We will review your business policy to access your coverages and represent you against your insurance company, to make sure you are properly compensated for your loss.

The recent suspension of business due to the Coronavirus (Covid-19), may give rise to many business interruption claims. A typical business policy can carry these types of Business Interruption coverages:

• Business interruption:When your business suffers damages and you are required to close your operations, business interruption covers your loss of revenue and continuing and additional expenses.
• Extended Business Interruption: Coverage for a limited time, income that is lost after the property is repaired but before the income returns to its pre-loss level.
• Contingent Business Interruption: Coverage for the income that was lost due to physical damage, not to its property, but to the property of providers or suppliers.
• Event Cancellation: Coveragewhen you have postponed or cancel events, due to damages to your property. You might be able to recover ticket prices, vendor reimbursement, and lost revenue.

The insurance company may take the position that business interruption coverage was not meant to cover governmental shut down due to the fear of the spread of the corona virus and likely deny the claim.  The insurance company may argue that since there was no physical damage to the property, the damage is not covered.  They will assert that the viral and bacterial exclusion applies to the loss.

Having someone on your side that understands your policy and coverages for Business Interruption Claims is critical.  If you have questions about your claim as related to the Coronavirus or Covid-19, give us a call at (407) 733-9997 and understand what’s in your policy.

A claim for business interruption may still be covered under several policies, depending on the circumstances and the language of the policy.  First check the declaration page to see if there is a limit of business interruption coverage. Then check to see what type of business interruption coverage exists and if there is coverage for an interruption based on civil authority. Based on the policy language, you can argue that physical loss is not required, and that the business interruption is due to the suspension of the business based on the Governor’s orders.   Legal experts are stating that the virus/bacterial exclusion only applies to actual physical damage to inventory of the business or contamination of the building itself.

If the business has an all risk policy coverage (instead of a named peril policy), then the argument is stronger that the loss was due to a covered cause of loss. The policy endorsements need to be checked to see if the time period covered is reduced from four consecutive weeks to three. Depending on the type of business, you should check to see if there is Dependent Property coverage which covers loss due to the inability of a supplier to get materials to the insured business.

Understanding Business Interruption Claims is critical.  If you have questions about your claim as related to the Coronavirus or Covid-19, give us a call at (407) 733-9997 and understand what’s in your policy.

Call Labrador Claims at 407-733-9997 for a FREE consultation, if you have sustained loss of revenue because of the Coronavirus or any other event.  We will review your business policy to access your coverages and represent you against your insurance company, to make sure you are properly compensated for your loss.