New developments in national struggle for business interruption claims
Where do you turn for help when there’s nowhere to turn? That’s the question many are facing after learning their insurance policies are of no use when it comes to COVID-19.
Businesses across the country big and small are filing business interruption claims only to learn they can’t be triggered by the coronavirus pandemic.
Now some say lawyers are saddling up to fight lawsuits over what constitutes a business interruption, but draft legislation is also floating around the country that could provide businesses some federal relief.
“And it is a way for Congress to recognize that there was a specific exclusion in a lot of these policies and that maybe congress needs to step in and, the expression is ‘backstop’, those claims. It’s a long way from pass I’m sure, but that’s the latest development over the past few days,” said Lisa Miller, Florida's former Deputy Insurance Commissioner and insurance consultant.
Congress is expected to return on May 4.