Silver Law Group is launching a Coronavirus Task Force to investigate financial wrongdoing associated with the coronavirus (COVID-19) pandemic, including wrongfully denied business interruption insurance. Silver Law Group is working with lawyers with significant experience handling wrongful denial of insurance claims. Working as a team, our lawyers have significant experience prosecuting claims against various financial services and insurance companies for misconduct.
Contact Silver Law Group at email@example.com or toll free at (800) 975-4345 for a no-cost consultation to discuss your legal rights and options.
The United States has more coronavirus cases than any other country, and the economic consequences of trying to control the spread of the virus have been severe. The country has seen massive job losses and declines in the stock market, as well as business closings, and shortages of supplies. Our attorneys have spoken with people who have suffered financial damages because of the denial of claims and other malfeasance.
Though most people are working together to return the country to normal, there are unfortunately some people who see the crisis as an opportunity to exploit others to make money. The Silver Law Group Coronavirus Task Force has been formed to identify these exploiters and assist victims.
Since the pandemic started, there have been cases of false claims about products, price gouging, predatory lending, and wrongly denied insurance claims. Our team of attorneys have prosecuted claims against insurance companies, financial advisors, and others who have failed to properly handle their clients assets and claims. Other claims include denial of long term disability insurance, life insurance and wrongful death claims.
Business Interruption Insurance & Coronavirus
Business interruption insurance covers a business for the loss of income after a disaster. It is supposed to keep businesses in the same place financially as if the disaster had not occurred by paying out money the business would have earned if they had been able to continue operating under normal circumstances.
Business interruption insurance can be included as part of the business’ property insurance and can be for “all risks” or contingent on specific circumstances.
The effort to slow the spread of the coronavirus has caused thousands of businesses to completely shutdown or drastically reduce their operations. Some business interruption insurance policyholders have been told that their policy doesn’t cover the loss of income caused by the coronavirus.
Some businesses have already sued their insurance providers to confirm that their business interruption insurance should cover losses from mandatory shutdowns caused by coronavirus. Thomas Keller, the famous chef behind restaurants The French Laundry and Per Se, has filed a suit against his insurer, Hartford Fire Insurance Company, for that purpose. Other restaurants have done the same.
Casinos have also sued insurers for coverage for financial losses related to the pandemic, arguing that they cannot operate their businesses due to emergency orders to close, and that their “all risk” policy should cover them.
The American Property Casualty Association has said that it believes most insurance policies, including those that have business interruption insurance, do not cover coronavirus-caused business interruption.
It’s been estimated that businesses could lose as much as $383 billion per month due to the coronavirus-caused shutdowns. Without receiving payment from business interruption insurance, many businesses and people who work for them will suffer.
Contact The Silver Law Group Coronavirus Task Force To Discuss Your Insurance Claims
If your business interruption claim was denied, contact the Silver Law Group Coronavirus Task Force for a consultation with our attorneys.
Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. Please contact Scott Silver for a no-cost consultation at firstname.lastname@example.org or toll free at (800) 975-4345.