Business Interruption vs CV-19: Revisited
Hunh?
Well, last week we posted what we thought was the definitive answer to the question of whether one’s Business Interruption coverage would be triggered by the current Pandemic:
And that, it seemed (at the time, at least) was that.
But maybe not:
“By way of example, some policies require “direct physical loss of or damage to” property. “Loss” and “damage” are not synonymous and may require separate analysis. Such wording could arguably trigger coverage where there is a loss of the premise’s use (even if the property is not physically damaged).”
That is, maybe BI cover does extend, even absent a “direct, physical loss.”
The article notes, for example that if “a property has been contaminated by an infected person, or because COVID-19 is in the airspace or on surfaces, this will likely constitute direct physical damage.” I would argue that this alone doesn’t seem to reach the threshold, but then, I’m not the judge or the claims adjustor.
And, of course, that particular cite pertained to a New Jersey Appellate Court decision, so its relevance in other jurisdictions is up for grabs.
And there’s this:
“Depending on the circumstances, the governing law, and the applicable policy’s language, they may very well be wrong. By way of example, some policies require “direct physical loss of or damage to” property. “Loss” and “damage” are not synonymous and may require separate analysis.”
Will be interesting to see how this shakes out.
As always, consult with your own agent about how your policy may (or may not) handle this.
Source: http://insureblog.blogspot.com/2020/03/business-interruption-vs-cv-19-revisited.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).