During the Coronavirus pandemic, while social distancing measures are utter imperatives for the public health, there will undeniably be immense losses of revenues to businesses. For example, the National Restaurant Association famously calculated that American Restaurants will lose $225 Billion over the next few months due to government closures.
While as a business owner, you may be tempted to first seek out help from your insurance company, the insurance law on these issues is often quite complex. Furthermore, while it is tempting to believe that the insurance companies enlisted have our best interests in mind, they are profit seeking firms like any other- who have every interest against paying claims. Due to both this complexity and the infrastructure, incentive and ability insurance companies have to refuse paying claims, owners often face challenge getting the compensation they deserve from their insurance companies. As a result, if your firm undergoes interruption due to Coronavirus, we advise you seek competent and trustworthy representation with extensive experience dealing with insurance companies, as epitomized by Attorney Loren L. Gold, P.A.