Covid 19 Business Insurance Law Miami Broward Florida. In recent weeks, an increasing number of state legislatures have taken drastic measures to force the insurance industry to shoulder much of the burden of the economic downturn brought on by the global COVID-19 pandemic. The crux of these bills center on “business interruption” coverage – a type of insurance coverage typically applicable only to losses resulting from physical damage to property, such as that caused by a fire or earthquake, and generally inapplicable to losses caused by viral or bacterial pandemics.
These bills would force many commercial property insurers to provide retroactive coverage to insureds for losses resulting from the COVID-19 pandemic regardless of the policies’ exclusions and the existence of physical damage to the insured’s property and regardless of premiums charged and the underwriting considerations made by the insurance companies when they issued these policies. We are following and tracking what states are doing and the bills that have been introduced to date.
Litigation in the U.S involving business interruption losses (principally involving whether such losses have arisen in connection with physical loss to property, and whether various exclusions for virus and pandemic apply) is proliferating.
At this time, we fully expect forthcoming litigation to determine issues related to the causation element of Business Income coverage. Insurance carriers can be expected to deny such coverage as most businesses cannot prove the actual presence of the virus on the premises. However, it will be argued that the fear of the virus’ presence is enough to invoke such coverage.
Lastly, depending on the kind of insurance policy in place, your policy may include and incorporate a “policy exclusions” section which attempts to limit coverage under specific circumstances such as loss caused by virus, bacteria, mold, microorganisms, contamination, pollution, etc. However, it is important to note that not ALL policies contain such exclusions and that such exclusions in your policy may not be fatal to your claim. Therefore, despite the existence of such an exclusion, you should always consult an attorney and request that they review your policy to determine whether you may be entitled to compensation for your loss.
Since 1990, the experienced insurance law attorneys at Harold B. Klite Truppman, P.A. in Miami Dade, Florida have been devoted to helping policy holders resolve insurance coverage disputes. Our attorneys represent individuals, businesses, condo associations and homeowner’s associations in a wide range of insurance law matters. We do not represent insurance companies.
Our goal is to provide competent, honest and tenacious legal representation. We believe well-prepared cases result in favorable outcomes. Our attorneys commit the necessary resources, expertise and time to maximize financial recovery. We are dedicated to achieving success for our clients.
To arrange a consultation, please contact us by email or call 305-374-7974. We represent clients with insurance disputes throughout the State of Florida.