We last discussed this issue a couple months ago:
"It's going to perhaps send a false sense of hope and promise to a community of folks who need action and relief now."
That was in response to a threat by DC Council-critters to force carriers to pay Business Overhead (BI) claims for quarantined businesses. Regular readers know that this coverage does not extend in that circumstance.
Fast forward a bit, and we get this in email:
"The ruling reaffirms that BI policies only cover physical damage."
That is, the closing of a business due solely to government mandate, with no actual physical loss, is not a covered BI expense.
This is important because it's one more nail in the proverbial BI/COVID coffin.
Click on through for the gory details.
"It's going to perhaps send a false sense of hope and promise to a community of folks who need action and relief now."
That was in response to a threat by DC Council-critters to force carriers to pay Business Overhead (BI) claims for quarantined businesses. Regular readers know that this coverage does not extend in that circumstance.
Fast forward a bit, and we get this in email:
"The ruling reaffirms that BI policies only cover physical damage."
That is, the closing of a business due solely to government mandate, with no actual physical loss, is not a covered BI expense.
This is important because it's one more nail in the proverbial BI/COVID coffin.
Click on through for the gory details.
from InsureBlog https://ift.tt/3gbiR72
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