Protection for your Business after a Disaster
Did you know that only about one-third of U.S. small businesses have business interruption insurance? Many businesses in Houston are experiencing the devastation caused by the Covid-19 outbreak. Many businesses are shut down or forced to have limited operations due to the current pandemic. Business interruption insurance is defined by investopedia.com as a type of insurance that covers operating expenses, a move to a temporary location if necessary, payroll, taxes, and loan payments. In rare cases, business interruption insurance can apply if a civil authority shuts down a business due to physical damage to a nearby business, resulting in a loss for a firm.
What does business interruption pay for?
Business interruption insurance (also known as business income insurance) is a type of insurance that covers the loss of income that a business suffers after a disaster. The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster. This type of insurance covers bills that continue during the interruption and any profit that your business would have earned.
Insurers Failing to Pay Coverage for Covid-19 Claims
Restaurant and other business owners pay insurance company premiums for business interruption (BI) coverage. However, during the ongoing Covid-19 virus shutdowns, many insurance companies are denying business claims and withholding coverage. A business interruption claims attorney will investigate your insurance company policy. If you have a meritorious claim we can pursue, we will work to make your insurance company honor your policy and pay for losses your restaurant or other business suffered during this stressful time. From our main office in Houston, we are handling Covid-19 shutdown-related claims in Texas, as well as all across the nation.
Business Interruption Claim Delayed? Denied? Underpaid?
If your business interruption claim has been delayed, denied, or underpaid, contact a business interruption claims attorney now for a free legal consultation.
Nationwide Legal Help for Business Interruption Claims
Our main offices are in Houston, Texas; but we are working with other lawyers all over the country to handle business interruption claims nationwide. Please see our Frequently Asked Questions regarding Covid-19 related insurance claims for businesses.
Insurers Lying about Coverage
Rather than paying legitimate claims triggered by our country’s civil authority shutdown, the insurance industry has, in some cases, chosen to spread propaganda. Many insurers are claiming that the virus does not cause a dangerous condition to property. Depending on different policies and interpretations, this position can sometimes be shown to be both factually and legally false. Many actors in the insurance industry appear to be spreading this false information to deceive policyholders about their coverage.
Civil Authority Shutdowns Trigger Coverage
The truth is that state governors and mayors across the country began Civil Authority Shutdowns. Those elected authorities issued emergency executive orders that state the virus physically is property loss and damage.
The legal language needed to trigger coverage has been announced and/or published in shutdown orders that were issued in Harris County (TX), New York City, New Orleans, Atlanta, Key West, Oakland Park, Pensacola, Napa, Panama City, Hillsborough County (FL), Broward County (FL), Harris County (TX), and the State of Colorado.
But despite those government proclamations, insurers are continuing to deny that the novel Coronavirus attaches itself to physical property, in order to avoid paying billions in property damages which the companies now owe to restauranteurs.
If insurance companies are able to continually deny such claims, many thousands of restaurants could go out of business, as some already have, delivering a terrible blow to the hopes and dreams of millions of people. There is no denying the importance of restaurants’ contribution to the very fabric of our society. It is arguably impossible to overestimate the impact of restaurants on the quality and fabric of all of our lives.
Restaurant Industry Facts
15.6 million people work in the restaurant industry
Restaurants add some $1 trillion to the economy yearly
The industry represents 4% of our Gross Domestic Product
Greater Houston Restaurant Association President
President of the Greater Houston Restaurant Association, Attorney Al Flores, wrote on April 10, 2020 to colleagues, friends, and others in the restaurant industry:
“As the second largest employer in the country, our restaurant industry in particular has endured unsustainable losses.
Like you, year after year we paid thousands of dollars in premiums to our insurance companies and expect that they will provide the coverages promised at every renewal. Now that we need them the most, they’re response for assistance under our business interruption coverage is a denial letter. This is simply unacceptable. On behalf of Gringos Tex Mex and Jimmy Changas we intend to file suit immediately.”
Free Legal Consultation
If you own a restaurant and have been denied claims by your insurer over the government-ordered Covid-19 shutdown, contact a business interruption claims attorney today. We offer a confidential, free legal consultation.
Business Interruption Claims Attorney – Houston
We work on a contingency fee basis, which means we don’t get paid unless you do. We welcome the chance to help you and your restaurant get back on your feet as we all begin to turn the corner on this awful shutdown.
