Insurance companies are great at taking premiums but often not so great at paying claims. Throughout the United States, businesses paid premiums for business interruption insurance. Now, these companies and corporations, which relied on their business interruption insurance safety net, are being cast aside by insurers. Insurers are claiming that a catastrophe like the Coronavirus and COVID-19 is not a covered loss relying on certain policy language. Insurers apparently prefer to have premium paying customers look to the government and our children’s future to pay for business interruption.
Businesses and Industries Affected
Certain insurance companies, however, can be held accountable. Businesses in the following industries should ask us for a free review of their insurance business interruption policies: accounting and consulting, apparel and clothing stores, automotive dealers and suppliers, construction, dentists, orthodontists, dermatologists and other physicians, employment companies, fitness and gyms, hotels and hospitality, manufacturers, movie theaters, restaurants, travel, etc. If your business insurer denied a business interruption claim, call us. We may be in the position to help recoup your company’s losses.
Surplus Line Insurance Carriers
This may be especially true if your insurer is a surplus line insurance company such as the following largest:
American International Group
Markel Corporation Group
Berkshire Hathaway Ins. Group
W. R. Berkley Insurance Group
Nationwide Group
Chubb INA Group
AXA U.S. Group
Fairfax Financial (USA) Group
Liberty Mutual Insurance Companies
Alleghany Insurance Holdings Group
Zurich Financial Services Group NA
Argo Group
Tokio Marine U.S. PC Group
QBE Americas Group
Sompo Holdings U.S. Group
AXIS U.S. Operations
James River Group
Starr International Group
Great American P&C Group
CNA Insurance Companies
Swiss Reinsurance Group
Aspen U.S. Insurance Group
Arch Insurance Group
Navigators Insurance Group
Everest Re U.S. Group
Lawsuits around the U.S. have already been filed against Aspen, Cincinnati Insurance, CNA, and Society Insurance. A first in line position will be critical in recovering business losses.
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