The Donkey & the Soldier – Review Your Business Interruption Insurance
This is a picture from World War II, a soldier carrying a donkey. It is not that the soldier loves donkeys or has some sort of perversion. What’s happening is that the field is mined and if the donkey was free to wander as it pleased, it would likely detonate a charge and kill everyone. The moral of the story is that during difficult times the first ones you have to keep under control are the jackasses who don’t understand the danger and do as they please.
Clark Law Firm can Review the Insurance Policy for Your Business for a Business Interruption or Business Income Loss Insurance Claim
Life as we know it has changed with the arrival of the COVID-19 corona virus pandemic. As businesses are shuttered, the economy is taking a massive hit. Small business owners who faithfully paid their insurance premiums have no choice but to turn to their insurance coverage to stay in business. Business interruption insurance is supposed to cover you when this kind of thing happens. It is supposed to replace lost business income from a disaster that interrupts your business. Insurance companies will deny these claims.
The Clark Law Firm knows insurance coverage well and may be able to help. We are in the process right now of reviewing business insurance policies for potential business interruption insurance claims and lawsuits for business owners. Businesses that may have these claims include:
- cafes, restaurants and restaurant chains;
- personal services like spas, hair, nails and medical;
- gyms, workout facilities;
- clothing and other retailers;
- companies that arrange conferences;
- travel industry;
- hotels and hospitality;
- pretty much any brick and mortar business shut down by the civil authorities.
Don’t Fall for the Insurance Company Delay, Deny, Defend Tricks. You May Have a Valid Claim for Loss of Your Business Income from the COVID-19 Pandemic
If you make a business interruption insurance claim on your own without an attorney, the insurance company will probably at first send you a letter telling you they are investigating the claim, if they don’t outright deny it. This may be a tactic to delay so you don’t do anything and make you think it is being taken care of. If you get a live person on the phone, they may also give you a false sense of assurance. Inevitably the chances are they will not pay you anything on your business interruption claim. You will probably need experienced insurance policyholder attorneys to fight for you and your business.
Another tactic the insurance companies may use is to make you think your policy excludes claims from viruses, pollution, and pandemics, hoping you just forget about it and go away. Sometimes this may be true, but many times it may not. Ultimately a court may decide if your insurance policy will cover your business losses from the COVID-19 virus pandemic. Legislatures may also make it more difficult for those exclusions to be valid. If you simply trust the insurance company telling you your business interruption insurance claim is not covered and you just forget about it and move on, you may be leaving a lot of money on the table.
Courts have talked about the insurance industry’s mantra of deny, delay, defend, or as otherwise articulated by Judge Baime in Owens v. United Ins, Co., 264 N.J.Super. 460, 491 (App.Div. 1993) as, the unholy mantra of “we collect premiums, we do not pay claims.” For more on this take a look at this publication from the American Association of Justice.
We Can Do this on Contingency So You Don’t Pay an Attorney Fee Unless There Is a Recovery
Clark Law Firm, PC can handle these claims on a contingency agreement basis. This means you would not pay any fee unless we recover money for you from your insurance company. If there is a recovery on your business insurance claim, the fee would come out of that recovery as a percentage. This works well for both because the more the client gets, the greater the amount of the fee; both are more incentivized to win.
Here’s What You Can Do Right Now to Get the Process Going for Your Business
Send an inquiry email to firstname.lastname@example.org. Include in the email four things:
- The name and address of your business and point of contact.
- The gross annual revenue of your business.
- An estimate of your loss or projected loss that you can prove with tax returns and accounting paperwork.
- A complete copy of the commercial general liability insurance policy for your business (including all riders) for the time period of your loss.
We will make every effort to get back to you promptly on your inquiry. Keep in mind sending us the inquiry email does not make us your attorneys. A signed retainer is required before we are your attorneys and can file any claim or lawsuit for you. There are certain time limitations to file a claim under New Jersey law and also possibly under your insurance policy, which if not met may forever bar you from bringing a claim. Therefore if you want to pursue a claim you should contact and retain a business income loss attorney without delay.
Don’t wait. COVID-19 Business interruption insurance lawsuits have already been filed across the country.
Don’t get left out. Don’t let the insurance company string you along. Don’t take their word for it that your policy excludes virus claims.
Contact the experienced business insurance lawyers at the Clark Law Firm, PC.