If COVID business interruption insurance expenses are denied, an attorney that fights insurance companies regularly can tell you if the carrier is correct.
You've paid for insurance coverage for events like the COVID virus, but many insurers are trying to deny claims for the product that they sold and were well-compensated.”
— Jim Haggarty, Partner
PHILADELPHIA, PA, UNITED STATES, June 30, 2020 /EINPresswire.com/ — If your insurance carrier has told you that your business owner's policy does not cover business losses due to the Coronavirus, it is most likely wrong. Lost revenue and added expenses caused by the COVID-19 pandemic are most likely covered under the policy. Few policies are in place where viruses are excluded.
If your coronavirus business interruption insurance claim has been denied, you still have options.
The insurance company provided you with coverage based on the policy that you purchased and you have a rights based on that coverage.
Attorney's know how to handle the insurance company, their adjusters, and lawyers. Attorney's specialize in dealing with insurance companies and denied claims. Just because the insurer said no coverage exists for your virus-related claim does not mean that they are correct. The policy is what dictates whether the denial is legitimate or not.
If your COVID business interruption expenses are denied, attorneys that deal with insurance companies may be able to help. Find an attorney that fights insurance companies regularly for peace of mind in knowing whether your insurance carrier is factually correct.
Locate an attorney within your state to investigate. Many will work with you and not charge you a cent unless they prevail in against the insurance company. A denial is just the first step in a complicated process.
Why are Insurance Companies Denying COVID-19-Related Claims?
Unscrupulous Insurers are trying to deny claims related to COVID-19—and in many cases, they are getting away with it. Each claim denied helps save the profits and bottom-line of the insurance company. Insurance companies know that some contract holders will give up or give in and not pursue the claim any further even though the policyholder is entitled to coverage.
While some policies do not cover or provide coverage of virus-related events, most policies in place today do not have a clause in their contract allowing an out for the insurance company. Legally, they most likely cannot legitimately deny the claim.
COVID business interruption insurance claims and the added expenses caused by the virus or government-ordered shutdowns should be reviewed if denied. Insurance policies of any type are confusing. The policy language is critical in determining whether a claim should be paid.
Clauses in some policies specifically state that a virus-related event will not be covered, but in most cases, business policies contain no such language. An event like the Covid-19 virus is the type of event that prompts business owners to sign up for insurance coverage in the first place.
Insurers are seeing a tidal wave of claims that can and will hurt the insurance company's profits. It is logical, but not right, for them to deny the claim.
What should a business owner due when the claim is denied?
Take Steps and Protect Your Claim
Businesses who have been denied coverage or maybe uncertain about whether they qualify for compensation should contact an attorney for a free consultation. Look for a firm that appears to be committed to winning on behalf of its clients. The firm needs to be aggressive in helping business owners to win and receive fair compensation.
Your first step should be to contact an attorney licensed in your state. Time is on the insurance company's side. Details of your policy will dictate any timelines that can affect the claim. You must meet with an attorney that is well versed and deals with insurance companies regularly.
Find an attorney immediately when the claim is denied. Some business owners may decide to involve an attorney when making a claim. Over the years, you paid your insurance company good money for protection in the case of an emergency like the coronavirus pandemic. You made timely payments to the insurance company enriching their profits. Now is the time to file a claim.
The attorneys at Haggerty, Goldberg, Schleifer, and Kupersmith, P.C., (HGSK) believe you are entitled to the coverage you paid for, and they are happy to persuade or force your insurance provider to honor the policy and do what is right.
Alleviating The Business Owners Fear
Some business owners are hesitant about filing a COVID business insurance interruption claim with their insurance carrier. Owners understandably worry that the insurer will either raise the premiums or cancel the policy. Filing a claim is not legitimate grounds for canceling a client policy. There are rules that an insurance company must follow.
You've paid for an insurance product, and now you have a claim. The claim is merely a request to receive the benefits of that product. Claims large or small should not entitle the carrier to drop you or raise your rates.
Insurers may raise rates without owners even making a claim. They want to protect their profits now and into the future.
The veteran attorneys at HGSK listen to their clients, investigate what protections the business interruption insurance policy provides. They help the insured understand what services they are contractually entitled to receive from their insurance carrier.
In most cases, the professionals at HGSK can alleviate their clients' concerns. They will blueprint a plan or course of action to make the carrier live up to their contractual obligations doing their best to make a client whole.
What steps should a business owner take when looking for compensation?
Choose an experienced lawyer that deals with or fights regularly for their clients with insurance carriers. These attorneys can look at a contract and evaluate your benefit. If you are comfortable with the lawyer or the firm, then sign an engagement letter. The letter will spell out the terms covering both you and the law firm.
Locate the original business insurance policy with all amendments and provide them to your attorney for a case opinion. Once the policy has been located, provide all details and documents and written correspondence to the attorney. If you have lost or misplaced your policy, provide the lawyer with bills, invoices, or statements covering that business interruption policy. Your attorney can get access to the original.
Once the attorney has received your documentation, schedule a time to discuss the attorney's legal determination.
Most firms will take your case on a contingency basis, meaning you pay nothing unless the attorney prevails.
Businesses are struggling because of the pandemic. The lawyers at HGSK have offices throughout Pennsylvania. The HGSK team does not charge a fee unless they are successful at winning your claim.
The team at HGSK wants you to be made whole for any damages caused by the virus. Once an Attorney at HGSK agrees to take your case, He or she will take the lead in preparing a strategy for dealing with the insurance company and with your consent implement that plan.
Call or contact the law firm of HGSK today if you have been denied or suspect that you will be denied for your COVID business insurance expense claim. HGSK's attorneys and staff will work with or legally fight to win you compensation. Protect your rights and contact HGSK now. Check out our COVID-19 FAQ for more information.
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Source: EIN Presswire