Isn't that why I have insurance?

The litigation has started. Here is a complaint filed by a restaurant in Louisiana seeking a court declaration that their insurance policy covers losses from the coronavirus. According to the complaint, there is no virus exclusion, but one of the issues, it seems, will be whether the losses fall within the policy's definition of a physical loss. Words matter in all contracts, and certainly in insurance contracts, and it will be interesting to see what happens in this case. I suspect we will see many insurance coverage disputes.

The insurance companies have teams of lawyers at their disposal who are likely already parsing out the words and crafting their strategies to limit exposure.You might think you have coverage, but the insurance companies have other plans. The insurance companies will want to limit their exposure which means denying claims. This is why it is important to review your insurance policies and seek counsel's assistance BEFORE you make any claims. That's how you level the playing field. If you think you might have an insurance claim, you'd be well served to work with experienced counsel to help you tender a claim that has the best chance of being accepted or, if denied, the best chance of prevailing should you end up in a dispute.

And don't delay. Timing matters, too, but that's for another post.

Wondering if you have any insurance claim to protect your business from losses due to the coronavirus? I can help. Call or email me. matt@lexerro.com. (312) 283-0133.