Business Interruption
With nearly 230,000 positive COVID-19 cases reported in the State of Florida to date, and increases being reported in the thousands each day, it is hard to determine the far-reaching effects this virus has — and will continue to have — on our residents and their businesses as we continue to our fight to contain the virus.
When Florida’s stay at home order went into effect on April 2, 2020, many non-essential businesses were forecasted not to make it through the 30-day closure, which left many scrambling to review their business interruption insurance policies, searching for financial help.
When the order was lifted, many businesses were — and still are — suffering from reduced occupancy and/or sustained traffic, which has significantly stifled their revenue and economic stability. As cases continue to rise, and businesses take the necessary safety precautions, COVID business losses are overwhelming our owners’ livelihoods.
At The Morgan Law Group, our business interruption insurance attorneys in Florida want to help you pursue the insurance companies who are not honoring their policies, leaving you without the financial help you need to continue operating the business you have worked so hard to build.
Insurance Companies Owe Policyholders the Duty of Good Faith
Business interruption and loss insurance are based on each business owner’s unique coverage, but the duty of good faith that is required by law is the same for everyone.
Your business insurance carrier must:
- Investigate your claim in a timely manner
- Pay claims that or owed, or
- Provide a reasonable explanation of why the claim has been denied
When they fail to properly investigate claims or issue blanket denials, their duty of good faith and fair dealing should be challenged.
How Can The Morgan Law Group Help Pursue the Financial Support I Deserve?
At The Morgan Law Group, our experienced Florida insurance claims attorneys understand that the analyzing business interruption claims is more complex than determining whether the property has sustained a direct physical loss in a fire, flood, or hurricane.
However, we contend that each insurer must investigate and evaluate each policyholder’s COVID-19 business interruption or loss claim before thoroughly explaining their coverage denial.
From business interruption, supply chain disruption, and event and travel cancellations, the State of Florida is only at the beginning stages of understanding COVID-19’s overall impact. At The Morgan Law Group, our business loss lawyers want to help each company owner understand their rights and their coverage, so they can pursue the financial recovery they deserve from the policy they have paid for so long.
If your business has suffered significant losses due to reduced hours or closure, contact The Morgan Law Group to review and discuss your policy with our experienced Florida insurance claims attorneys by calling 888-904-2524 today. We can help you determine exactly what you are entitled to, and how we can help you pursue a positive outcome.
