“The focus of the insurance world is business interruption, and BI claims are coming into insurers at a rate never seen before,” Goldberg Segalla partner Jared T. Greisman told Business Insurance.
Jared, a leader of the firm’s First-Party Property Coverage practice, explained the contours of the coming COVID-19 BI coverage battle, in which insurers will contend that there have been no direct physical damages to trigger coverage, and policyholders will content that coronavirus contamination and government-ordered closures constitute or equate to physical damage.
“Most insurers have chosen, particularly after the SARS epidemic, to make clear that pandemic-related losses—communicable disease, virus-related losses—are excluded,” Jared said.
Goldberg Segalla is one of the premier law firms advising and representing the global insurance and reinsurance industry. Our 75-lawyer Global Insurance Services practice group, which Law360 ranks among the largest in the United States, exists to serve insurers, reinsurers, and all others operating in the insurance arena.
The firm’sCoronavirus Coverage Teamserves multiple leading insurers on national and regional coronavirus coverage panels, and provides ongoing counsel to national and international insurers regarding the latest developments in coronavirus-related legislation and regulation as well as trends in claims and litigation.
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