Insurance Coronavirus Litigation Lawyer Trenton
We have never seen a global health emergency on the scale of the present one brought about by COVID-19 (Coronavirus). In this time of crisis, nothing is more important than keeping people safe. In recognition of this fact, many businesses have been shut down by government mandate in order to minimize contact between people, and slow the spread of the virus.
Though this measure may be necessary, it threatens the economic security of countless businesses, their owners, their employees, and, by extension, the entire global economy. Nor are those businesses which have been deemed essential spared from the disruption. With the general public advised to stay at home whenever possible, and the loss of income for so many people, even major retailers are taking a hit.
So in addition to the health crisis, we are also faced with an economic crisis of historic proportions – one which demands a decisive response. As part of this response, the United States Government has allotted billions in loans and grants to businesses affected by COVID-19. As the situation progresses, we may see further action from Congress and the President which gives greater relief to affected individuals and businesses. Whether your business has been closed or is otherwise taking major losses, there are also steps which you, as a business owner, can take to secure your company’s future.
One crucial step is the evaluation of your company’s insurance plan. The majority of businesses have some form of insurance coverage, and most business insurance plans include Business Interruption Coverage. This insurance covers the loss of income that a business suffers after a disaster, and is sometimes also called Business Income Insurance. Before the present crisis, this form of insurance would kick in when businesses closed as a result of more sudden but less widespread disasters, such as hurricanes and floods. COVID-19 presents something very different, being more far-reaching, and involving more government mandated shut-downs than any situation in recent memory. But, however different the case may be, insurance companies still have the same obligation to compensate their Business Income Insurance clients for their lost income, as per their contract.
To determine what coverage applies to your situation, call The Law Offices of Greg Proshmushkin, P.C. We will assign a skilled Business Interruption Coverage and Business Income Insurance Lawyer to review your business insurance policy free of charge. During this review, we will determine whether you have Business Interruption Coverage, and if so, under what conditions it applies.
Business Interruption Coverage can be divided into four major subareas: Business Income, Civil Authority, Extended Business Income, and Dependent Properties. Civil Authority Insurance Coverage is of particular concern to many businesses in the present crisis, because it applies when a civil authority prohibits access to a business. To meet this standard, two conditions must be true:
- Access to the area immediately surrounding the damaged property is prohibited by civil authority as a result of the damage, and the described premises are within that area but are not more than one mile from the damaged property; and
- The action of civil authority is taken in response to dangerous physical conditions resulting from the damage or continuation of the Covered Cause of Loss that caused the damage, or the action is taken to enable a civil authority to have unimpeded access to the damaged property.
Insurance companies will usually try just about anything to avoid their legal obligation to their clients. Therefore, they often attempt to deny legitimate claims even when these two conditions are met. To avoid payment, they often claim the existence of an “exclusion” which prevents payment of the otherwise legitimate claim – whether such an exclusion really exists or not.
Trenton Insurance Coronavirus Litigation Lawyer
Don’t take their word for it. The survival of your business is at stake. Contact Us today, so that our Business Interruption Coverage and Business Income Insurance Lawyers can begin reviewing your insurance policy. We will determine if your company has any Business Interruption Coverage, and, if so, what exclusions do or do not apply to this coverage.