Can You Pursue a COVID-19 Business Interruption Claim?

Businesses across the country are suffering massive financial losses amid the coronavirus outbreak and resulting shutdown. If your business is struggling due to this viral pandemic, you may be eligible to pursue a claim for losses caused by business interruption.

Greg Coleman Law provides an overview about business interruption insurance coverage, what it may cover and who may be eligible for a claim. Our knowledgeable attorneys can also determine eligibility for your specific situation in a risk-free, zero-cost legal consultation. We charge no upfront attorney fees if we represent you and do not get paid unless you do. 

Why Purchase Business Interruption Insurance?

Business interruption insurance is designed to assist businesses during incidents that result in a loss of income or reduction of a company’s ability to operate. As with any type of insurance policy, certain exclusions and/or deductibles may apply, as described in the details of your policy documentation.

If you have a valid claim, you may be eligible to receive compensation for:

  • Loss of revenue
  • Lost profits
  • Litigation fees
  • Expenses associated with closing or reopening your business

    We can review your policy to help determine whether you may be eligible to pursue compensation for your monetary losses to your business due to COVID-19.

    Who May Be Eligible For Coverage Amid COVID-19?

    Our experienced team of lawyers will need to review your policy, your specific circumstances and other contributing factors.

    Typically speaking, whether or not your business interruption insurance will provide coverage for financial losses caused by this viral pandemic will be determined by various considerations:

    • How state law applies to your policy
    • The coverage limits you purchased
    • The terms of the policy, including any defined exclusions

    Our attorneys are prepared to review and evaluate the merit of your potential business interruption claim, regardless of whether or not there is a law or exclusion that seems to make you ineligible for pursuing compensation for your losses.

    This is an unprecedented pandemic, and several states, insurance carriers and businesses are already considering new legislation that may help to include more coverage for businesses affected. The proposals vary widely and have certain limitations, but we are prepared to help determine what legal options may be available in your situation.

    What Are Some Reasons For Denied Coverage?

    A business may be denied coverage for business interruption during the pandemic for one or more of these reasons:

    • The business owner failed to report his or her loss in the required timeframe. This is tricky because you may still be trying to determine your losses, however, do not let this delay getting the process started. It is important to file promptly to preserve your rights as a policyholder.
    • Your policy may not include coverage for losses due to a viral pandemic. Coronavirus is not the first viral outbreak to negatively affect a business. Since the Severe Acute Respiratory Syndrome (SARS) outbreak of 2002-2003, many insurance carriers have excluded viruses or coverage for other types of bacteria and microbes. However. we encourage you to contact an attorney anyway, as some exclusions may not be enforceable.
    • Your business property has not suffered any physical damage. Many claims denied for this reason will likely be contested in court, the argument being whether or not a virus can cause damage to a business.
    • Your business was not included in a mandatory closure or stay-at-home order.

    If you have already filed a claim and were denied, we recommend that you contact our firm as soon as possible to discuss your legal options.

    Seek Legal Help For Your Business Interruption Insurance Claim Today

    At Greg Coleman Law, our trusted Knoxville lawyers are prepared to help you navigate the complicated legal process of a business interruption insurance claim. We are available to fully handle your case, including all communication with your insurance carrier and other third parties on your behalf.

    If you purchased business interruption insurance and you want to pursue a claim, contact our firm to learn more. We can discuss the business interruption claims process and your potential legal options. There is zero risk and no obligation to move forward. However, if you choose to file a claim and we represent you, there are no upfront costs and nothing to pay unless we get money for you.

    Free consultation. Call: (865) 247-0080