The COVID-19 pandemic is an unprecedented crisis that has caused many small and midsize businesses to endure financial challenges, through no fault of their own. To add insult to injury, many of these companies are having their viable business interruption insurance claims denied.
Read on to learn more about the insurance companies that are denying these types of claims during this difficult time.
Insurance Companies Under Fire
There have been federal class-action lawsuits filed against a number of insurance companies that have chosen to deny policy claims that were filed in order to safeguard against business interruptions from the impacts of the coronavirus.
The six insurance companies that are named in the suits are as follows:
- Aspen American Insurance
- Auto-Owners Insurance
- Lloyd’s of London
- Society Insurance
- Oregon Mutual Insurance
- Topa Insurance Company
Insured Businesses Should Receive Aid
The insured businesses that have had their claims allegedly wrongfully denied are as follows:
- A restaurant/nightclub in San Diego, CA
- A bridal retailer in Cleveland, OH
- A bakery based in Madison, WI
- A chain of restaurants/bars in Minnesota
- A dental practice based in St. Paul, MN
- A restaurant in Portland, OR
- A restaurant group and pizzeria based in NY
All of the aforementioned businesses claim that they purchased “special” property insurance coverage designed to safeguard against business interruptions or disruptions that are out of their control. The policies all included coverage for business income and didn’t explicitly exclude losses sustained due to viral infections like the coronavirus.
We Can Help
If you’re a small or midsize business owner and are in a similar situation in which your business interruption claim has been wrongfully denied, we may be able to help. Here at Chute, O’Malley, Knobloch & Turcy, LLC, our attorneys are highly skilled in litigation against insurance companies. Our team has helped hundreds of clients achieve the justice they deserved, and we can help you, too. Don’t hesitate to contact our office with your case right away.
Call the Naperville lawyers at Chute, O’Malley, Knobloch & Turcy, LLC today at (773) 906-4063 to speak with an attorney about your case.