If your business’ insurance policy has a virus exclusion, we may be able to help!

The 2020 COVID-19 pandemic has impacted the entire world. People have lost their jobs, employees have been laid off, and businesses have been forced to close their doors. Insurance companies are denying business claims, refusing to pay out much needed financial assistance to businesses of all sizes. If your business has been negatively impacted by this pandemic and your insurance company refuses to help, we may be able to assist you.

The Ruth Law Team is now representing business owners who have been denied crucial payouts from their insurance companies. Whether your day-to-day business has slowed or completely closed, contact the attorneys at The Ruth Law Team for a free review of your insurance policy at 727-327-3222.

All Perils and Business Interruption Coverage

Many business owners carry “all perils” insurance policies or “business interruption” insurance which, in the event of a loss, would provide coverage for income that business would have earned had it been operating normally. These policies often provide coverage for business expenses such as employee wages, taxes, rent, licensing fees and other regular expenditures. These policies are essential to properly protect your business from unforeseen events and natural disasters (like earthquakes, hurricanes, tornadoes, vandalism and equipment damage) and should be purchased as part of any sound, comprehensive risk management program.

Business interruption insurance coverage, just like any other insurance policy, is determined by the closed for business signlanguage in the policy itself. To determine whether losses caused by COVID-19 are covered, the policy holder should review the policy including any definition of business insurance coverage, which is included. Language related to the business interruption coverage will be found in either the property/casualty policy or a comprehensive package policy, likely added as an add on or rider.
Contrary to their title, these policies do not provide coverage for all perils, dangers or events. Like any insurance policy, business interruption policies are often littered with exclusions and conditions. Deciphering the insurance company’s language can also be confusing and frustrating.

Has Your Insurance Company Denied Your Claim?

Many business owners have heard their insurance companies’ latest mantra that:

    1. Business losses suffered in connection with the recent responses to COVID-19 are not covered by policies with business interruption coverage;
    2. Such losses are not caused by the type of physical damage required to file a successful claim; and
    3. Exclusions for losses in connection with viruses are ironclad.

Certainly, there will be opposition by carriers to recovering business interruption losses in connection with COVID-19, and we expect insurance companies to swiftly deny such claims. The legality of such denials is not, however, as certain as insurance companies would have you believe. The mere fact that an insurer has denied your claim does NOT itself mean coverage doesn’t exist for Coronavirus-related losses. In fact, an initial denial of coverage may be a standard business practice.

After the denial, it will require an experienced insurance coverage attorney to review the policy and relevant facts. An attorney may need to determine for example whether the use of the word “loss” in a policy could trigger coverage due to a loss premises use. Our attorneys at The Ruth Law Team and our practice area partners have significant experience in the practice area of insurance coverage, which is what will be required to determine whether an insurance policy with business interruption insurance will cover losses related to Coronavirus/COVID19.

Which Businesses Can We Help?

Very few industries have remained untouched by this pandemic. It has been especially devastating to economies that thrive on the hospitality industry, such as Tampa Bay and Florida as a state. If you own one of the following types of businesses and need to make an insurance claim, we may be able to help. This is a non-exhaustive list.

    • Restaurants, bars, hotels, and food trucks
    • Gyms, exercise studios, and fitness centers
    • Hair salons, nail shops, spas, and others in the self-care industry
    • Retail stores, specialty shops, and clothing/accessory boutiques
    • Wholesalers and distributors that rely on purchases from other businesses
    • Home improvement businesses and garden-supply stores
    • Art and photography studios
    • Daycares
    • Event halls and event-planning services

The insurance industry is a trillion dollar industry. These companies can afford to pay, and they should pay. If your company has closed or lost income during the Coronavirus (COVID-19) emergency and you either have been denied coverage or are simply trying to determine whether coverage exists, please call us at 727-327-3222 to schedule a FREE consultation. We are helping businesses throughout Florida. It does not cost you anything for our attorneys to review your policy, and there are no upfront costs or fees to you! We will need a copy of your policy to get the process started.

The Ruth Law Team is Here For You

About The Ruth Law Team: Our attorneys have been practicing law here in the Tampa Bay Area and throughout Florida for nearly 40 years. We have extensive experience dealing with insurance companies. Learn more about our legal team or call us at 727-327-3222 to speak directly with a lawyer.