Those with the benefit of Business Interruption Insurance which actually responds in the current situation will unfortunately be very much in the minority. Standard policies tend to cover closure due to some calamity (e.g. fire or flood) which causes physical damage to premises. Extensions to cover for infectious diseases usually contain a list of specified diseases (unlikely to include COVID-19). The wording of policies does vary drastically and thus it is important to take advice from your broker in the first instance and to take steps now to protect any claim your business might have.
It may be possible to recover losses under other commercial insurance policies (for example those covering supply chain contractual liability). Again, advice is crucial. We work with brokers to advise on the merits of making claims and challenging cover decisions.
WE CAN HELP
Having the right legal advice at the right time is crucial. Our expert team offers clear, concise and problem-solving legal advice aimed at dealing with insurance issues quickly and effectively.
Please do not hesitate to get in touch with Kirsten Magee in our litigation team (details below) or your normal Mills Selig contact to discuss.
21 Arthur Street
Belfast, BT1 4GA
T: +44 (0)28 9024 3878