In this video, Richard Burke, partner at Clifford Law Offices, talks about the initial evaluation of business interruption claims. Click below to watch the video.
When considering if a client has a business loss insurance claim, an attorney needs to:
- Have the client inform the insurance company that they have been affected by COVID-19 and they are intending to make a claim.
- The attorney should obtain the policy and review it.
- The attorney needs to look at what the insurance company considers a covered loss. This often includes physical damage or physical loss to property.
- If the policy includes loss due to civil authority.
- Does the policy include exemptions that would make it so that the company would not cover this type of loss?
- If the client has received a denial letter, the attorney must receive a copy.
- Have the client gather accounting records to establish losses in the company’s income.
- Consider what type of actions needs to be taken.
Watch the ISBA Richard Burke Evaluation of COVID 19 Business Interruption Claims video.