Will Your Business Interruption Insurance Cover Your COVID-19 Losses?
As businesses continue to shut down across Louisiana and the nation in response to city and state “stay at home” orders, business owners are worried about whether this public health disaster is covered under their business interruption insurance protection plans. If they listen to their insurance agents or the many media articles on the topic, they probably think they are out of luck. However, business owners have nothing to lose by filing a claim to test the waters, and if that claim is denied they always have the option to file a lawsuit to enforce their insurance plan.
Whether your claim is covered or not is likely dependent on the type of policy and the specific language in it. If you have a business that has been affected by closures, check your business policies to see what losses may be covered. Even if your insurance policy contains a specific exclusion related to viruses or pandemics, there are several angles to possibly overcome the exclusions.