Kiplinger

Inside Tips on Handling Coronavirus Business Insurance Claims

When disaster strikes, we first worry about health and safety. Then concerns of financial loss and damage come to mind.

Many commercial insurance policies contain clauses that protect a business in the event of a disaster -- including a biological crisis, such as the coronavirus, which has led to governmental intervention, shuttering companies across America. Typically, these policies provide coverage on an "all risk" basis. That means all risks of loss and damage are covered unless explicitly, expressly and unambiguously excluded.

For example, expenses incurred to decontaminate and protect your premises should be covered. Losses from the interruption of your business due to government-mandated closures in this viral pandemic may be covered. However, some insurance companies are instructing their claims adjusters to use obscure contract interpretations and deny certain business interruption claims, which are indeed covered.

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