Solicitor Discussing Business Insurance Claim

What to check for business losses caused by COVID-19.

Have you had to close your business as a result of the COVID-19 pandemic? Have you suffered a loss in revenue as a result of COVID-19? Do you fear it is only a matter of time until you do? If so, we recommend you follow these 4 vital insurance related steps: –

  1. Obtain a copy of the insurance policy that is in force during the pandemic and losses suffered;
  2. Check whether a ‘Business Interruption’ extension was obtained as part of the cover;
  3. Check whether the business interruption extension will cover for closure due to any infectious disease.

Contact BII Claims without delay for an initial review of your policy wording to advise whether we can be of assistance in seeking your insurers confirmation that they will pay out.

Couple Claiming Business Insurance

For anyone that has had experience of dealing with insurance companies or have had to make an insurance claim then they are likely to have been met with opposition by insurance companies and loss adjusters. You may have also seen in recent news that there is concern insurance companies will not compensate for business interruption caused by COVID-19.

Here at BII Claims (and RLK Solicitors) we have significant experience in insurance claims and persuading insurers that their policy should indemnity our clients. We are facing troubling times ahead and we all purchase insurance to provide protection when things go wrong. As you will appreciate, insurance companies do not part with money easily and we understand some insurers are already putting barriers in place.

For example, in a Q&A, AXA have said: –

“If the government orders my business to close to stop the spread of the coronavirus, can I claim on my Business Interruption policy? As coronavirus was unknown until recently, there will be very few policies that cover it. There are some policies that cover compulsory closure caused by any notifiable infectious diseases; however, the vast majority list specifically the diseases they cover.” 

Subject to the wording of your policy, we would be delighted to assist in persuading your insurance company to pay out. Please do not hesitate to contact us should you wish to discuss your case further. 

  • 0121 450 7800

** This article does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to provide information on issues that may be of interest. Specialist legal advice should always be sought in any particular case. **

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