Business Income and Government Quarantine
- Thread starter Beachguy
- Start date
J
Jason Henderson
Guest
This is in every iso based policy I have seen
https://northstarmutual.com/UserFiles/File/forms/policyforms/Current/CP 01 40 07 06.pdf
https://northstarmutual.com/UserFiles/File/forms/policyforms/Current/CP 01 40 07 06.pdf
- 2,261
I heard yesterday that some carriers are saying to process the claim and they are waiting to hear from the Gov't about mandates to pay claim.
- 783
^Yes on this^. File the claim and let the Carrier officially deny it. Avoid the potential E&O claim plus business owner has the documentation for later relief.
I have filed two so far.....
I have filed two so far.....
- 783
Attached is a great E&O advisement read from the AZ Big I.
Be Well!
Dave
Be Well!
Dave
I published this article yesterday:
Business Income Insurance…Does It Cover Coronavirus Shutdowns? | Insurance Commentary with Bill Wilson
Business Income Insurance…Does It Cover Coronavirus Shutdowns? | Insurance Commentary with Bill Wilson
- 5,285
This isn't quite on the thread topic, but still I think relevant and pretty interesting.
I have a client that is an essential business. They rent offices in a much larger building. The building owner locked the building with chain and padlock when the California quarantine started, and called off the security the building normally has.
For my client, the essential business, to get back into the building the landlord insisted they hire their own security, which will cost around $1,000 per day. They must also assume liability for the ENTIRE building, as they are the only ones in there.
It was a nice change to finally tell one of my clients during this time "yes, you ARE covered for that", even though they will have to cough up the $1,000/day out of their own pockets.
I have a client that is an essential business. They rent offices in a much larger building. The building owner locked the building with chain and padlock when the California quarantine started, and called off the security the building normally has.
For my client, the essential business, to get back into the building the landlord insisted they hire their own security, which will cost around $1,000 per day. They must also assume liability for the ENTIRE building, as they are the only ones in there.
It was a nice change to finally tell one of my clients during this time "yes, you ARE covered for that", even though they will have to cough up the $1,000/day out of their own pockets.
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My understanding is this bill is dead. It was likely unconstitutional.
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