Are Insurance Companies Paying Business Interruption
Now the added policy language will potentially allow insurance companies to avoid hundreds of billions of dollars in business interruption claims because of the covid 19 pandemic.
Are insurance companies paying business interruption. Companies say they have been paying premiums for business interruption coverage for years while insurers insist that pandemics are explicitly excluded from such policies. Then he moved on to the subject of business interruption insurance. Sure we can all agree that covid 19 has seriously interrupted business in america. A third of small companies in the uk could stop buying business interruption insurance in the wake of the growing controversy over whether the policies will pay out for coronavirus losses.
Many businesses have an insurance policy that specifically covers business interruption but as one south jordan man found out insurance companies are not paying business interruption claims tied. Business interruption insurance doesn t cover your business being interrupted confirm insurance companies insurance companies have been quick to point out that having business interruption insurance doesn t mean you re going to get a payout when your business gets interrupted. That s the easy part. After the initial major interruption because of covid 19 businesses are reopening and customers are slowly returning.
George sanchez is one of them. You have people that have never asked for business interruption insurance and they have been paying a lot of money for a lot. Business interruption insurance is a safety net some businesses have spent years paying thousands of dollars for but now when many need it they re being denied.
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