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No, insurers may not have a good case to decline business interruption claims
Report

No, insurers may not have a good case to decline business interruption claims

Hailey Ross and Jason Woleben
Standard & Poor's, 2020
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Editorial Rating

8

Qualities

  • Eye Opening
  • For Experts

Recommendation

Insurers and companies are preparing to battle over claims of business interruption due to the coronavirus pandemic. According to this expert and accessible report from Standard & Poor’s professionals Hailey Ross and Jason Woleben, the acceptance or denial of claims rests on the interpretation of policy language, so expect attorneys to be closely examining contract provisions and courts to be hearing many of the disputes. Give the potential scale of claims, both insurers and businesses have much to litigate.

Take-Aways

  • The COVID-19 pandemic forced a shutdown of many businesses in the United States, leading to a spate of business interruption insurance filings. 
  • Interpretation of policy coverage will take center stage in litigation proceedings.
  • Policy language regarding business interruption coverage varies among carriers.
     

About the Authors

Hailey Ross is an insurance reporter with S&P Global Market Intelligence, where Jason Woleben is a research analyst.

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