As corporate counsel consider the ways to mitigate the financial impact from the COVID-19 crisis, it is important to look closely at whether insurance can be a source of assistance. Outside of specific coverages designed to cover losses from pandemics, many businesses may find that their commercial property insurance policy provides coverage to offset their lost income and extra expense under the coverages for business interruption, contingent business interruption, extra expense and civil authority.
Taft’s Insurance Coverage and Recovery attorneys have published a white paper that includes some key insurance coverage policy provisions, provides examples of how they may apply in unexpected ways to allow businesses to obtain coverage, discusses important considerations for making, preserving and proving claims and explains why it is so important to give timely notice.
Download the white paper here.
Please visit our COVID-19 Toolkit for all of Taft’s updates on the coronavirus.