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Business InsuranceCOVID-19

Business Interruption During COVID-19

By March 19, 2020February 25th, 2022No Comments
business being interrupted by covid

Business Interruption During COVID-19

First of all, WE ARE STILL FULLY OPERATIONAL. In the event that our physical location may be closed due to COVID-19, we will still be fully capable of functioning as AFS Insurance. We can still make changes, answer questions, and issue new policies via phone and/or e-mail, even if in person contact becomes restricted. PLEASE DON’T HESITATE TO CONTACT US!


Business Interruption Insurance & COVID-19

As you’ve heard from a dozen different corporations by now, we’re monitoring the insurance industry’s response to COVID-19 closely.

The most important thing we can stress is to call us if you have experienced any kind of loss, or if you have changed your business model in anyway, in response to COVID-19.

 


Here’s what you need to know in regards to coverage & claims:

We know that many of you are dealing with the closure or potential closure of your businesses.

  • Most, if not all, Property, Liability and Worker’s Comp Policies include a “Virus and Bacteria Exclusion” and/or a “Communicable Disease Exclusion“, so as it stands right now we have low expectations that any losses related to COVID-19 will be covered.
  • HOWEVER, this incident is unprecedented and unprecedented incidents have a way of changing industries. SO IF YOU HAVE A LOSS – GET A CLAIM FILED. We don’t know how State and Federal Governments will respond later and it’s within the realm of possibility that claims that are denied today may be paid 6 months or a year from now. GET THEM FILED!

 


Have you changed your business model?

It is impressive to see the creative ways some businesses have developed to keep their community safe as well as continuing to support their local economy.

If your business is offering delivery, operating from new or different locations, or has changed in anyway, take 5 minutes to call Jen and review it with her to make sure your current policy provides coverage.

 


Could my business be liable for the spread of COVID-19 to my customers?

The short answer is yes. We are beginning to see lawsuits already. Family members of victims who have died from COVID-19 and are able to track down where the virus was likely picked up have sued those establishments for not being proactive and complying with the CDC’s guidelines.

The scary part about this is that those lawsuits are not covered under these business’s General Liability policies due to that “Communicable Disease Exclusion” mentioned earlier. These businesses are paying legal defense fees out of their own pockets.

 


Am I liable if my employee contracts COVID-19? Does Worker’s Comp Cover it?

There is no clear answer here. It really depends on each individual case. The best advice we can give you is to follow the CDC guidelines strictly to mitigate your own liability. Call us! Times like these are when having an independent agent can be the most valuable.

We have resources for employers beyond Worker’s Comp coverage. If you have questions about how to handle COVID-19 as an employer, or as a contractor, call us, even if it’s not insurance related. If we don’t have an answer, we have people that do.

 


Reach out to Jennifer Moore, our Commercial Lines Agent and Risk Management Specialist at 717.762.5780 x21 or Jennifer@afsmainstreet.com

Additional info on COVID-19 can be found on the CDC’s website by clicking here – https://www.cdc.gov/coronavirus/2019-nCoV/index.html

 

This material is for general informational purposes only. All statements are subject to the terms, exclusions and conditions of the applicable policy. In all instances, current policy contract language prevails. Products, services and discounts referenced herein are not available in all states or in all underwriting companies. Coverage is subject to individual policyholders meeting our underwriting qualifications and state availability.

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