Harris County Judge Lina Hidalgo extends her March 24 “Stay Home, Work Safe” Order, wherein she declared that “the COVID-19 virus causes property loss or damage due to its ability to attach to surfaces for prolonged periods of time,” to April 30.
COVID-19 Business Insurance Headlines
Jefferson County Judge Jeff Branick issues Seventh Amended Emergency Order, wherein he declared that “the COVID-19 virus causes property loss or damage due to its ability to attach to surfaces for prolonged periods of time.”
The insurance industry is so alarmed at the prospect of a massive payout that it’s rushing to put together a plan to get Washington off its back, including an option where businesses submit claims to their insurers as if coronavirus business interruption losses are covered. Insurers would then adjust those claims as normal and determinenew_excerpt_more
A bipartisan group of 18 House members wrote to four insurance industry trade groups, asking them to retroactively make financial losses related to COVID-19 part of their business interruption insurance coverage, particularly for small businesses. In response, insurance industry representatives said that, although they are working to assist their customers, business interruption insurance policies arenew_excerpt_more
The bill also includes a provision that would allow insurers to petition the state for partial reimbursement collected from other insurers in New Jersey that do not offer business interruption insurance coverage. This would potentially shift business losses attributable to COVID-19 to all insurers in the state. Massachusetts, New York, and Ohio have also introducednew_excerpt_more