AN IMPORTANT INSURANCE COVERAGE REMINDER TO ALL BUSINESSES SUFFERING BUSINESS INTERRUPTION LOSSES:
If you are a businesses suffering losses at this time from business interruption…
1. please do NOT assume that the existence of a so-called “virus exclusion” in your policy precludes coverage. If you are being advised by your brokers the purported “exclusion” applies, you might be incorrectly advised that no coverage exists under the so-called “exclusion” when, in fact, there may be coverage under applicable caselaw, legislative efforts and executive orders. As such, it would be wise to seek a second opinion from insurance coverage counsel.
2. you should keep as detailed a record of your losses as possible to support your claim, and put your insurers on notice as soon as possible at the risk of having them argue that pre-notice losses are excluded from coverage.
Should you wish to discuss your situation further, please feel free to contact us at Cooper, LLC, where I can be reached at firstname.lastname@example.org.
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