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Keep seeing these attorney ads for going after biz interruption insurance
Posted on 5/18/20 at 9:12 pm
Posted on 5/18/20 at 9:12 pm
Does anyone know if they have been successful with getting a payout? Or is this just the latest ambulance chase? I was denied for my business.
9
Posted on 5/18/20 at 9:15 pm to gsvar2004
Most ( if not all ) of the polciies exclude the unique situation we are in. I looked at some of these and most require actual physical damage to you plant of operation.
Posted on 5/18/20 at 9:16 pm to Barrister
Yea that’s what the insurance company told me too, I was just curious was clause or claim these attorneys are trying for and if it’s been successful
Posted on 5/18/20 at 9:17 pm to gsvar2004
Just a money grab. It appears that 99% of the policies exclude stuff like we are dealing with.
It doesn’t stop scumbags like Mike Bradner from trying to make money off of folks
It doesn’t stop scumbags like Mike Bradner from trying to make money off of folks
Posted on 5/18/20 at 9:19 pm to gsvar2004
there are a bunch of potential COVID-related claims that i would want no part of
this is one. i would only take work on these cases hourly. this is going to be a big boom for defense attorneys.
this is one. i would only take work on these cases hourly. this is going to be a big boom for defense attorneys.
Posted on 5/18/20 at 9:21 pm to SlowFlowPro
quote:
this is going to be a big boom for defense attorneys.
Easy money most likely.
That being said, I wonder what happened with the Star Cinema places in Houston.
They had an insurance policy that specifically covered this exact situation and their insurer at least initially denied coverage.
Posted on 5/18/20 at 9:24 pm to JohnnyKilroy
quote:
Easy money most likely.
you never know. it may take a while for select cases to be tried/appealed. LA courts are weird and they legal issues will be ruled on by local judges in many cases
Posted on 5/18/20 at 9:38 pm to gsvar2004
Quite sure there’s a force majeure clause that excludes pandemics in almost all of those policies,,,,,and after this giant cluster, they are going to add another 10 pages of legal mumble jumbo into your policy renewal
Posted on 5/18/20 at 9:38 pm to gsvar2004
Almost all exclude pandemic.
While they will try to argue "civil authority," the exercise of civil authority that results in the business interruption cannot be the result of a noncovered loss.
While they will try to argue "civil authority," the exercise of civil authority that results in the business interruption cannot be the result of a noncovered loss.
Posted on 5/18/20 at 9:49 pm to udtiger
There is ZERO chance this pays out, as it would bankrupt the entire insurance industry.
Lawyers are charging hourly, and will make bank.
Lawyers are charging hourly, and will make bank.
Posted on 5/18/20 at 10:53 pm to gsvar2004
It depends on the specific language and what part of the country you are in. The different federal circuits have different interpretations of direct physical damage to property. There were some successful business interruption claims related to mad cow disease that will be useful in covid 19 cases.
Posted on 5/18/20 at 11:05 pm to gsvar2004
There will be Covid coverage dispute litigation still alive a decade from now
Posted on 5/19/20 at 12:12 am to gsvar2004
2 things have crossed my mind and some others i know in the insurance industry:
1. They are definitely going to go after the insurance agent’s E&O coverage.
2. The attorneys are hoping some JBE types help them out with setting precedent or creating loopholes that could force coverage for pandemics. There are plenty of judges in LA that give 2 craps what the contracts says.
1. They are definitely going to go after the insurance agent’s E&O coverage.
2. The attorneys are hoping some JBE types help them out with setting precedent or creating loopholes that could force coverage for pandemics. There are plenty of judges in LA that give 2 craps what the contracts says.
Posted on 5/19/20 at 12:28 am to gsvar2004
There are business owners who actually had pandemic insurance and they are reporting being denied because it only covered diseases that had previously caused pandemics.
Posted on 5/19/20 at 5:38 am to Alabama Slim
I hate insurance companies with a passion but the TV lawyers are wrong here. They are throwing a Hail Mary here. BTW, if successful they would certainly make business ins unaffordable. I am not a lawyer and can clearly read that this in not a coverred loss in my policy.
Posted on 5/19/20 at 5:43 am to iron banks
Some companies paid specifically for this coverage:
Wimbledon gets $141 pandemic coverage
But yes for the most part it is a money grab
Wimbledon gets $141 pandemic coverage
But yes for the most part it is a money grab
Posted on 5/19/20 at 6:06 am to iron banks
quote:
if successful they would certainly make business ins unaffordable.
Think again if you believe only business insurance will be unaffordable if the courts mandate that insurers must pay these claims.
Posted on 5/19/20 at 7:09 am to 632627
It’s not business insurance, goodness that is an amateur hour name. It’s business interruption insurance and not every business that has insurance has business interruption insurance.
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