Hey fellow agents! 👋 Let's talk about that hot-button issue that's been simmering for years now – COVID-19 business interruption insurance claims. We all saw businesses, big and small, struggle during the pandemic. Many assumed their policies protected them, but guess what? Insurance companies aren't always playing nice.
The big question is whether "business interruption insurance" actually covers losses when a business has to shut down due to something like a global pandemic. Courts are still grappling with this, and there's no one-size-fits-all answer.
What does this mean for us? 🤔
- Stay Informed: Cases are popping up all over the place, and rulings are mixed.
- Review Policies Carefully: Know the exact language used, especially around what kinds of closures are covered.
- Be the Expert: Clients are going to look to you for advice. Be ready to explain the complexities of this situation.
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