Learn About Key Issues of Business Interruption Insurance
The COVID-19 pandemic has negatively impacted profitability from retail stores to restaurants, to almost every other business in between. Businesses who were forced to comply with executive "shut down" orders, in Michigan and across the country, have suffered significant losses as a result.
In an effort to recoup their losses, many businesses have filed claims with their commercial liability insurers asserting that their losses are covered under the “business interruption” or “civil authority” provisions of their policies. Insurance companies however, by and large, have fought against such claims and denied coverage. Significant litigation has ensued across the country with mixed results. These issues are likely to continue to be litigated in trial and appellate courts for years to come. Billions of dollars are at stake.
Moderated by Patricia Scott and featuring litigators Matt Fedor and Paul Millenbach, our next Second Wednesday Morning Break will be address the key issues businesses need to know in order to review their business coverage policies, assess their rights, and assert claims, as appropriate. We will cover:
- Important points in interpreting business coverage policies, including how they are analyzed by courts in litigation.
- The six elements an insured business must establish to bring a successful claim.
- The ins and outs of virus exclusions.
- The standards used by courts to assess whether a business has suffered a physical loss.
- An overview of the court decisions in order to provide perspective on how courts are dealing with business coverage litigation.
Topic: Key Issues of Business Interruption Insurance Coverage During the Pandemic
Date: Wednesday, March 10 from 9:00-9:30 am
Fee: No Charge