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The COVID-19 pandemic is already harming many U.S. business operations, and it appears likely to do so for weeks or even months. Now is the time for businesses to begin analyzing the financial impact the coronavirus is having on their overall operations and determine whether they have insurance coverage for any losses associated with the virus.

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As with any insurance policy-interpretation question, whether any coverage exists for coronavirus-related claims must be determined on a policy-by-policy basis. However, the following policies may provide coverage depending on the particular circumstances:

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As always, insurance coverage will depend on the specific terms of the pertinent policy. Businesses should be locating and checking their insurance policies and consulting with insurance professionals about coverage for coronavirus-related losses.

Businesses should also be instituting procedures for collecting and organizing data supporting coronavirus-related damages as soon as possible to ensure nothing falls through the cracks. While a multitude of coverage disputes surrounding coronavirus-related losses are inevitable, businesses should already be saving receipts and setting-up coding in their accounting systems to track losses related to the pandemic. Documenting coronavirus-related costs now will make substantiating any future insurance claims markedly easier.

In sum, businesses should be identifying potentially applicable insurance policies that might provide coverage for coronavirus-related losses and tracking virus-related damages now.

Christopher M. Bechhold 513.352.6790 <a href="mailto:Chris.Bechhold@ThompsonHine.com">Chris.Bechhold@ThompsonHine.com</a>

Sean P. McCormick 937.443.6824 <a href="mailto:Sean.McCormick@ThompsonHine.com">Sean.McCormick@ThompsonHine.com</a>

or any member of our <a href="https://www.thompsonhine.com/services/business-litigation">Business Litigation</a> practice group.

Additional Resources

We have assembled a firmwide multidisciplinary task force to address clients’ business and legal concerns and needs related to the COVID-19 pandemic. Please see our <a href="https://www.thompsonhine.com/services/covid-19-task-force">COVID-19 Task Force</a> page for additional information and resources.

This advisory bulletin may be reproduced, in whole or in part, with the prior permission of Thompson Hine LLP and acknowledgment of its source and copyright. This publication is intended to inform clients about legal matters of current interest. It is not intended as legal advice. Readers should not act upon the information contained in it without professional counsel.

This document may be considered attorney advertising in some jurisdictions.

https://admin.thompsonhinestaging.contentpilot.net/wp-content/uploads/2022/05/Insurance_Coverage_for_Losses_Related_to_the_Coronavirus.pdf

Insurance Coverage for Losses Related to the Coronavirus

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