Business Interruption Insurance

The COVID-19 pandemic prompted business closures throughout the United States: Up to 54 percent of small businesses are closed or expect to close, according to a survey from MetLife.

Many business owners rely on Business Interruption Insurance to protect them against exactly this kind of unexpected closure, but insurance companies are denying their claims. A dispute with a large insurance company – and the traditional hourly rate for the attorney fees required – may be too large a financial burden or risk for organizations already struggling for cash flow.

Stueve Siegel Hanson is currently accepting Business Interruption Insurance cases. 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. We believe that when businesses need to fight their own Goliaths, they should not have to worry about how they afford the battle.

Do I have a Business Interruption Claim with COVID-19?

Business Interruption Insurance policies are individually crafted to the insured’s business. This pays for loss of business income due to necessary suspension of normal business operations. This “suspension of operations” may arise directly from contamination of the facility from COVID-19, a state or local authority’s order, the need to protect employees/customers, or many other scenarios that impact the use of your business and its property for its intended purpose.

A business owner’s coverage of damages due to the coronavirus will come down to the insurer’s specific policy and external conditions, and also might include cases where the local, state or federal government ordered a shutdown. It’s anticipated that the insurance industry will deny business interruption claims on a wholesale basis. Even if this does not occur, many insurance companies will deny claims arising from this pandemic, attempting to rely on exclusions or other policy language.

Our firm is accepting Business Interruption Insurance claims on behalf of a wide variety of business owners and institutions, regardless of location or industry. This includes healthcare professionals, such as dermatologists, optometrists, surgeons and dentists, as well as restaurants, landlords, building owners, management companies and retailers that have incurred additional costs and lost income as a result of the coronavirus. We also are accepting coverage cases for not-for-profit organizations and educational institutions.

Why Stueve Siegel Hanson

We advocate for policy owners nationwide, and we have a solid track record against the insurance industry: We have recovered more than $2 billion in cash and death benefits for our clients. We are adept at interpreting policy minutiae and jargon, and we have successfully held insurance companies accountable in courts across the country.

While every case is different, our recent experience includes:

  • $2.25 billion in death benefits against Lincoln National Life on behalf of policy owners who purchased a variable-universal life insurance policy and alleged the insurer overcharged for the cost of the insurance, in violation of the policy.
  • A $34 million jury verdict against State Farm on behalf of policy owners 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 policy owners 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.

Please contact us today for a free, no-obligation review of your potential Business Interruption Insurance claim.

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