Jim Wilkins has been practicing law for 36 years and his specialty is insurance coverage litigation. Due to the pandemic going on, how likely are business owners able to get a business interruption claim? And if they cannot receive this claim, what legal actions can they take? Jim weighs in and helps share how you can navigate this crisis going forward.
Highlights:
- How does business interruption insurance play into effect during the pandemic?
- It's a tricky situation because technically a virus cannot cause damages to the premises.
- However, the devil is in the detail and different insurance carriers have worded this differently. This is why some people feel like they might have a case.
- When would it make sense to file a lawsuit to the insurance company?
- Let's take a step back and look at what insurance companies do and how they work.
- Because this is a worldwide issue, insurance companies are going to fight hard to retain their money.
- Jim's best advice right now is to wait and see the next six to eight months how insurance companies are reacting/winning. However, do not wait too long, or else it might be too late to file a lawsuit.
Resources:
Suttonhague.com
Calnevalaw.com
Wdcllp.com
