Insurance Claims for COVID-19 Losses
Stueve Siegel Hanson is investigating business-loss claims against insurance companies on behalf of insureds and policyholders. We prosecute these claims on a contingency fee basis.
The impact of COVID-19 on the U.S. economy has hit small businesses especially hard. With 47 percent having two weeks or less of cash liquidity according to a 2019 report by JP Morgan Chase, small businesses are particularly vulnerable to the significant pandemic-related disruptions including public health forced closures and curbside-only mandates.
As businesses seek relief for these income losses from insurance, commercial policyholders are reviewing requirements for business interruption claims.
For business owners, complex policy wording and terms will determine what – if any – scope of coverage is triggered and determined a quantifiable financial loss; and the insurance industry has largely indicated there is little to no coverage available.
A COVID-19 FAQ issued by the Kansas Insurance Department, notes that it is unlikely that losses related to the coronavirus will be covered under a business interruption policy since most have communicable disease or virus exclusions. Some businesses have secured pandemic or other coverage that should cover COVID-19 losses but are still being denied. Let us help you with this type of claim.
Facing a dispute with large insurance companies, and the traditional hourly-rate attorney fees associated, may be too large a financial burden or risk for small businesses who are already challenged by having recourse to fewer resources.
We believe that when entrepreneurs need to fight their own Goliaths, they should not have to worry about how they will afford the battle. At Stueve Siegel Hanson, we conduct business litigation differently. We offer fee arrangements based on the results we achieve for our clients. There are no upfront fees, retainers or hourly billing; lawyers simply receive a percentage of any award collected.
Stueve Siegel Hanson advocates for policy owners nationwide. Our team of attorneys has recovered more than $2 billion in cash and death benefits for policyholders. Recent experience includes obtaining:
- A $34 million jury verdict against State Farm on behalf of policyholders alleging the insurer improperly included non-mortality factors in calculating the cost of insurance charge under the insurance contract.
- A $59 million settlement against John Hancock on behalf of policyholders in a nationwide class action alleging that John Hancock overcharged policy owners by including expenses in its cost of insurance charge in violation of the insurance contract.
- $2.25 billion in potential death benefits against Lincoln National Life on behalf of policyholders who purchased a variable-universal-life-insurance policy and alleges that the insurer overcharged him for the cost of that insurance in violation of the policy.
To learn more about our contingency fee agreements or to receive an evaluation of your policy and your case, contact us today.