COVID-19 & Business InterruptionApril 23, 2020
With the recent onslaught of COVID-19 sweeping the globe there has been a lot of conversation about insurers providing coverage for business interruption losses caused by disease outbreaks and pandemics. Up until now the insurance industry as a whole hasn’t written coverage for this kind of situation. In fact, most policies specifically exclude disease pandemics.
The reason is simple: The carriers would go bankrupt.
Sterling Seacrest Partners’ Doug Rieder says pandemic-caused losses are usually excluded from most business interruption policies. The reason is that they can affect all businesses, all the same time. Watch this short video to hear more from Doug.