Business Interruption Insurance Claims
The California Insurance Commissioner, Ricardo Lara, recently Issued a Notice on April 14, 2020, which provides some helpful information regarding Business Interruption Insurance Claims caused by the COVID-19 pandemic.
It is our strong recommendation to our clients that those business owners experiencing (or those that expect to experience) a business interruption loss, should report a claim directly with the insurance company, so that they can conduct an appropriate coverage investigation to determine if coverage may apply.
Many insurance policies have provisions requiring prompt and timely reporting of claims, therefore claims should be reported as soon as possible directly with your insurance company.
The link to the Dept. of Insurance, Commissioner Ricardo Lara’s Notice on April 14, 2020, regarding, “Requirement to Accept, Forward, Acknowledge, and Fairly Investigate All Business Interruption Insurance Claims Caused by the COVID-19 Pandemic” Can Be Viewed Here.
The link to California Dept. of Insurance “FAQ on Business Interruption Insurance and Other Issues Affecting Small Businesses” Can be Viewed Here.
We hope that your families and your employees are safe and healthy. We recognize that this is a difficult time, and we extend our thoughts of comfort and strength during this period of uncertainty and disruption. Please Contact Our Office if you have any questions.
Have Questions About Business Losses Related to COVID-19?
Our trained staff is standing by ready to help.