Business Interruption Coverage: Recent Developments

Co-authored by: Alison Gillotti       The current COVID-19 pandemic has caused widespread closure of non-essential businesses, the financial and economic effects of which are already being felt across the country. Many business owners are looking to their business interruption coverage to mitigate the financial impact this crisis is having.       Business interruption coverage insures against …

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COVID-19 Business Interruption/Extra Expense Coverage Checklist

Most businesses have suffered losses from closures related to Civil Authority Orders and/or Covid-19 Virus on their premises. Many insurance companies are denying coverage to those businesses. The following checklist is intended to help you determine if you have a loss, what steps to take and things to consider if your claim has been denied. …

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States are Currently Proposing Legislation Requiring Retroactive Removal of Virus Exclusion to Coronavirus Business Income and Civil Authority Claims

     States across the United States have been proposing legislation that could retroactively remove virus exclusion clauses for COVID-19 business income and civil claims. New Jersey has recently proposed Assembly Bill 3844 which would mandate that “every policy of insurance insuring against loss or damage to property, which includes the loss of use and occupancy and …

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Suspension of Statutes of Limitation amid COVID-19 Pandemic does not apply to suits against your Insurance Company

Everyone in Connecticut has been effected by the COVID-19 pandemic and the Executive Orders issued by Governor Ned Lamont. Some Connecticut resident may have recognized that recent Executive Order 7G suspends most civil statutes of limitation, allowing causes of action with deadlines to initiate a lawsuit by March 19, 2020 to be filed after that …

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Is There Business Interruption Coverage For Damages Caused By The Corona Virus (COVID-19)?

The outbreak of the coronavirus (COVID-19) has stopped or stalled thousands of American business in its wake. The economic results of the pandemic are only starting to be realized, and the National State of Emergency and related shuttering of many businesses will only add fuel to this fire. As a result, many businesses are looking …

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Xactimate, who owns it and who are you actually dealing with when the insurance company relies on an Xactimate estimate?

Xactimate is a program created by Xactware and it used by insurance companies to estimate property damage claims that many believe are biased against the insureds in favor of the insurance company. Today 22 of the top 25 property insurance companies in the U.S. use Xactware property insurance claims tools. Xactware is a subsidiary of …

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When Does an Excluded Loss End and a Covered “Resulting Loss” Begin

When an excluded loss ends and when a covered “resulting loss” begins was the subject of a recent decision in, EMS USA, Inc. v. Travelers Lloyds Ins. Co., 54509 (S.D. Tex. Feb. 28, 2018). This case involved a builder’s risk policy that covered a natural gas pipeline construction job in Texas. The insured, pipeline contractor, …

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Period of Restoration and Extended Business Interruption Coverage

     The U.S District Court of New Jersey recently issued a decision that is useful in outlining the scope of business interruption coverage with respect to “period of restoration” and extended business income coverage. See Milk Industry Management Corp. v. Travelers Indemnity Co. of America, 337 F. Sup. 3d 423 (D.N.J. 2018). The insured, Milk Industry, …

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Replacement Cost Coverage

What is replacement cost coverage, and do you really have it?  Anyone who owns a home or business should have appropriate and adequate insurance coverage.  Most home and business owners have coverage known as replacement cost coverage.  Replacement cost coverage comes in various assortments such as “Guaranteed” replacement cost coverage, “superior” replacement cost coverage, and …

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