Tag Archive for: business interruption insurance claim

What makes ICRS public insurance adjusters (P.I.A.’s) different?

Read more

Breaking Through the Disruption Webinar

business interruption losses webinar

Breaking Through the Disruption Webinar: Navigating COVID-19 Business Interruption Losses 

Topics Include: • Should you file a business interruption losses insurance claim now?
• What options do Policyholders have to get claims settled?
• How to make a strong argument for business interruption coverage.
• How does a virus exclusion endorsement potentially affect civil authority coverage for business income losses?
• Review of Physical loss or damage policy language.
• Leading question “gotchas” from your insurance company
• Definition & importance of “civil orders”
• Elements of a business loss claim

business interruption losses webinar

business interruption losses webinar business interruption losses webinar business interruption losses webinar
Shannon Loyd
Attorney
The Loyd Law Firm, P.L.L.C		 Scott Friedson
Public Insurance Adjuster
Insurance Claim Recovery
Support		 Bruce Smith, CPA/CFF, CFE
BDS
Forensic Accounting


Sponsorships or Future Webinar Ideas:

Contact:
Ginger Wheless
713.661.6350
ginger@rednews.com

Registration or Technical Questions?
Contact:
Alan Davis
alan.davis@rejournals.com

,

Businesses are battling insurers over the coronavirus

By Tom Hamburger and Tony Romm
April 22, 2020 at 12:23 p.m. CDT

Hard-hit restaurants, gyms, and other businesses are battling insurers over the coronavirus, sparking a new Washington lobbying war

Hundreds of billions of dollars are at stake, and some groups have asked Trump to intervene.

A multibillion-dollar standoff between the nation’s leading insurers and the restaurants, hotels, gyms, and theaters that purchase their policies has spilled into some of the most powerful corridors of Washington, as both sides clash over who should foot the sky-high costs of the coronavirus outbreak.

The battle hinges on whether insurance providers should have to pay claims to companies that have shuttered unexpectedly as a result of the deadly pandemic. The dispute has attracted the attention of President Trump, triggered lawsuits in courtrooms nationwide, and touched off a massive lobbying blitz on Capitol Hill, where some insurers say the federal government instead should be the one providing financial help to those that need it most.

The industry’s powerful lobbyists, led by the American Property Casualty Insurance Association (APCIA), say “business interruption” policies never were intended to cover contagions. Even if they had been, the estimated claims just from small businesses during the coronavirus pandemic could total more than $430 billion a month, threatening to create a “solvency event” for the industry, said David A. Sampson, the group’s chief executive.

Read More Here


https://www.washingtonpost.com/business/2020/04/22/businesses-insurance-coverage-coronavirus/

Trump Tells Insurers to Pay Virus Claims If Pandemics Not Excluded

Trump Tells Insurers to Pay Virus Claims If Pandemics Not Excluded

President Donald Trump on Friday staked out his position in a legal battle over business-interruption claims: Unless the policy excludes pandemics, insurers should pay.

Trump spoke about the issue for a minute and a half during his daily coronavirus task force briefing after a reporter asked if he is concerned about growing credit card debt resulting from business closures. The president said that he was and that the White House has spoken to credit card companies about reducing interest rates.

Then he moved on to the subject of business-interruption insurance.

“You have people that have never asked for business-interruption insurance and they have 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,’” Trump said. “We can’t let that happen.”

Trump said that he had purchased business-interruption insurance for some of his businesses when he was in the private sector.

“I’m very good at reading language,” Trump said. “I did very well in these subjects, OK? I don’t see pandemic mentioned. Now, in some cases it is; it’s an exclusion. But in a lot of cases, I don’t see it. I don’t see a reference that they don’t want to pay up.

“I would like to see the insurance companies pay if they need to pay if it’s fair. And they know what’s fair. And I know what’s fair. I can tell you really quickly.”

Read More Here

https://www.claimsjournal.com/news/national/2020/04/10/296516.htm?fbclid=IwAR0SgUOrXwLnSqDHBvfFlA4zrvRqRsoNQHxwv0UZIwhduTozuq-Dfgyfzs4

Has COVID-19 Caused Your Business to Close?

The Coronavirus (COVID-19) has interrupted many businesses, impacting their income and revenue.

Most policies exclude viruses but many business interruption policies trigger coverage for business loss due to a pandemic event or civil authority. If your City or State has issued an order to shut down your business we can assist you in determining if your policy language can arguably trigger coverage and assist you in filing your claim.  Insurance Claim Recovery Support is offering a free consultation by way of a free review of your policy to advise whether your business may have coverage for loss of income.  Simply fill out the form below, we will contact you within 3 business hours and you will receive a link to schedule 30-minute complimentary consultation.

Skilled, trusted public insurance adjusters can advocate for their business owner/operator clients with both claim adjusters and examiners — and how they negotiate with each will change significantly in this market. If COVID-19 caused your business to close, contact the experts at ICRS.

Business Interruption Loss Claim Review

Has Coronavirus interrupted your business, income, and revenue? Civil Authority for the shut down of restaurants and businesses may trigger coverage.

BUSINESS INTERRUPTION LOSS CLAIM REVIEW
SURVEY LETTER