Business Interruption Insurance & COVID-19
Free Evaluation Services to Help You Understand Your Business Income Coverage
Governor Northam’s executive order to shelter-in-place due to COVID-19 has had a huge impact on Virginia businesses. “Business as usual” is anything but normal and with the order extending to June 10, it’s unlikely that “normal” will return soon. Business owners typically guard against risk and unforeseen circumstances with business interruption insurance (BII), but how does BII apply to a pandemic?
At Breit Cantor Grana Buckner, we’ll review your BII policy, also known as a business income insurance policy, for free to determine what you’re owed for the dues you paid. We’ll also help with the complex commercial litigation and business law concerns that may have arisen as a result of changes from COVID-19.
We’ve won multimillion-dollar verdicts and settlements for our clients across Virginia, and we’re here to support you and your business during these unprecedented times.
What Does Business Interruption Insurance Cover?
Business interruption insurance reimburses a business for loss of income after operations are halted due to an unexpected event. A standard business interruption insurance policy covers physical damages caused by natural disasters, fires, floods, wind, and lighting. Nevertheless, many business owners wonder if they can make business interruption claims to cover the losses caused by the coronavirus pandemic and if it will be enough to overcome the losses experienced due to the outbreak.
The first step is to understand your business income coverage. Some property insurance policies include language that encompasses communicable disease and interruption by civil authority clauses. Others only go into effect if there is a physical property loss. Some policies have an “exclusion for loss due to virus or bacteria” clause that may prevent policyholders from seeking indemnity. However, businesses that operate in the healthcare and hospitality industry may have policies that cover the losses caused by a contagious disease without having to prove any physical damages.
What is Provided in Your Policy?
Breit Cantor Grana Buckner can review what your business income coverage includes and answer your questions. Our firm is experienced in reviewing insurance policies on a daily basis and our expertise is helping business owners fight to make sure they are reimbursed what is due for the insurance premiums they’ve paid. Our lawyers will fight insurance companies to make sure you get the support you deserve. Let us help you in this time of crisis and financial hardship. The policy review is free of charge, so call or email us now.
What You Can Do to Prepare for Your Business Interruption Insurance Claim?
Business loss insurance claims can help protect your company during COVID-19, but but the pandemic is affecting business income insurance policies differently. To set yourself up for the best possible outcome, it is critical that you maintain records of the financial impact that COVID-19 has on your business and document the following:
- Is there any known COVID-19 infection within your workplace, customers, or suppliers?
- Is your business workplace or any of your employees presently under quarantine?
- Are your employees’ ability to work impacted because of illness, quarantine, or inability to commute to work?
- Are you unable to provide services due to government order? Is your business associated with a forced closure?
- Have you missed contractual obligations due to being unable to deliver goods or services?
Until state and federal relief guidelines are more clearly delineated and understood, it is essential to document the steps you are taking to maintain revenue, control costs, and keep losses from escalating. Documentation will help your attorney if you need to file a business interruption insurance lawsuit to get the support you’ve rightfully paid for.
We Are Always Here to Help
If you have questions about your business interruption insurance policy resulting from the COVID-19 pandemic and Virginia’s shelter-in-place restrictions, please reach out to the team of Breit Cantor Grana Buckner for a free evaluation. Our attorneys are working remotely during the crisis and can conference with you by telephone or video.
Commercial Business Disputes During COVID-19
IF WE DON’T OBTAIN A RECOVERY ON YOUR BEHALF, YOU DON’T OWE US A PENNY
COVID-19 has affected businesses and their contracts across the state resulting in expensive business losses. Even in more “normal” circumstances, smaller companies or individuals may have trouble gaining a satisfactory resolution when they’re involved in a dispute with a much larger organization. Now, with the additional pressure of COVID-19 and the shelter-in-place order, those disputes can cause significant harm to your business.
Hiring a highly competent commercial business dispute lawyer can mean the difference between a satisfactory resolution and your business’s overall wellbeing, and simply having to suffer the transgression or write the experience off as the cost of doing business. At Breit Cantor Grana Buckner, we accept cases on a contingency fee basis, meaning that you won’t be charged a fee unless we obtain a recovery on your behalf.
Individuals who have suffered substantial damages as a result of business torts can seek a fair resolution of their dispute without having to pay tens of thousands of dollars in upfront legal costs to expensive hourly rate commercial firms. At Breit Cantor Grana Buckner, we can aggressively advocate for a fair resolution!
Our Virginia commercial business dispute attorneys can exhaustively pursue justice on your behalf. Call (888) 635-9500 for a free case evaluation today!
Types of Commercial Business Dispute Cases We Handle
The types of commercial cases we handle include the following:
- Breach of contract
- Interference with contractual relations
- Misappropriation of trade secrets
- Real estate disputes
- Construction disputes
- Shareholder disputes
- Breach of fiduciary duty
- Bet the company litigation
Whatever your case may be, you can trust that our business and commercial litigation team is more than capable of handling it. We pride ourselves on our hard work and dedication to success. In fact, we have won over 150 million- and multimillion-dollar verdicts and settlements for our clients and are among the most experienced trial lawyers in Richmond, Virginia Beach, and the nation!
Call a Capable Business Litigation Lawyer at Our Firm
At Breit Cantor, we are fully invested in a fair recovery on behalf of our clients. We accept commercial litigation claims on a contingency-fee basis and provide options for other financial arrangements, such as a reduced hourly rate combined with a percentage success fee that is determined by the outcome.
Whatever you choose, you can rest assured that we are committed to obtaining just compensation on your behalf. Call us now to schedule your free, virtual case evaluation.