Business Interruption Claims

Business interruption coverage is insurance covering the loss of income as a result of a loss covered by the insurance policy. To recover damages for a business interruption claim, it must be shown:

• The insured suffered physical damage to the insured property
• caused by a covered peril
• resulting in an interruption of the business
• resulting in actual monetary loss or loss of business income
• that the loss of income occurred during the "period of restoration" defined by the policy.

The insured cannot recover anything in excess of the actual loss sustained as business interruption coverage is intended to provide the insured the amount of profit it would have earned but for the interruption. Coverage for loss of business income is available under both a business interruption coverage provision, and under a contingent business interruption provision of a policy. If your insurer has failed to honor its promise and has delayed payment, denied your claim, asserted a lack of coverage, attempted to pay less than the true value of the claim, or has in any other manner adjusted the claim improperly, the Wells Law Group can help make your business whole again.

Business interruption coverage is insurance covering the loss of income as a result of a loss covered by the insurance policy. To recover damages for a business interruption claim, it must be shown:

• The insured suffered physical damage to the insured property
• caused by a covered peril
• resulting in an interruption of the business
• resulting in actual monetary loss or loss of business income
• that the loss of income occurred during the "period of restoration" defined by the policy.

The insured cannot recover anything in excess of the actual loss sustained as business interruption coverage is intended to provide the insured the amount of profit it would have earned but for the interruption. Coverage for loss of business income is available under both a business interruption coverage provision, and under a contingent business interruption provision of a policy. If your insurer has failed to honor its promise and has delayed payment, denied your claim, asserted a lack of coverage, attempted to pay less than the true value of the claim, or has in any other manner adjusted the claim improperly, the Wells Law Group can help make your business whole again.