May 12, 2020
1PM EDT/10AM PDT
The Future of Business Interruption Insurance in the Wake of the Covid-19 Pandemic
The COVID-19 pandemic has led to government-mandated closures and restrictive social distancing guidance. As a result, businesses are experiencing a devastating impact to their bottom lines. In an effort to recoup losses, business owners across the nation have made claims for business interruption insurance benefits provided by their commercial property insurance policies—only to be met with denial letters maintaining that business interruption insurance does not cover business losses related to COVID-19. As a result, state and federal courts across the nation are beginning to see a wave of lawsuits. This controversy has also prompted lawmakers across the nation to consider legislative action to require that business interruption insurance policies to cover business losses resulting from COVID-19.
What do these lawsuits and legislative initiatives mean for businesses and insurers? How should they be preparing to address these issues?
To address these issues and answer your questions, CMBG3 Law is pleased to host a virtual panel discussion featuring:
- James B. Eldridge, Massachusetts state senator and chief sponsor of legislation to require insurers to cover business interruption claims related to COVID-19.
- Ryan Stifter, forensic economist and technical director at Roux, who will offer guidance to both policyholders and insurers about what they can do to best prepare for issues arising in business interruption claims disputes.
- Eric J. Robbie, attorney at CMBG3, will offer perspective which addresses the issues at the heart of insurance coverage and claims litigation.