There is a very active debate brewing over whether or not business interruption insurance will cover losses arising from the closure of businesses around the globe due to the COVID-19 virus.
Some states are attempting to legislate coverage into existence. While their intentions may be to provide some measure of financial support for business owners, the practical reality is that the losses were not priced nor paid for before the pandemic and legislating coverage could have a direct impact on the ability of insurers to cover losses from hurricanes, tornadoes, floods and other perils for which they did collect premiums.
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
