As the Coronavirus losses mount, a burning question for many businesses concerns the insurance coverage available to ease these losses. Insurance companies can be expected to push back, disclaim coverage and point to exclusions. But coverage exists for various forms of loss from this pandemic. A review of typical insurance policies held by businesses shows that coverage in multiple lines should be investigated. And as the government and public response continues to unfold, coverage terms should be revisited.
Most articles and guidance from coverage lawyers right now concern property coverage. That coverage is important. However, liability coverage will likely loom large somewhat later as individuals and businesses look to shift their losses by making claims against others.
Liability Policies May Be Increasingly Important Over the Long Run
Many businesses will face claims involving infection, exposure and COVID-19-related losses. Some property owners and other businesses operating in various locations may not shut down or will only shut down after there is a COVID-19 infection associated with their property or operations.....