Can a Business Recover for Income Losses After it Restores its Premises and Resumes Operations? Understanding Business Interruption Claims
- Details
- Published on Monday, September 17, 2012
- Written by Web Editor
Most insurers will automatically cut-off business income loss benefits after a business rebuilds or repairs the damaged premises and opens for business. However, this all-too-prevalent claim practice could be inadequate and harmful if the policy has an extended business income endorsement and post resumption conditions are ignored.
A recent Colorado case illustrates this common practice in business income claims and the outcome of this case could prove to be an industry game changer.
Most insurers will automatically cut-off business income loss benefits after a business rebuilds or repairs the damaged premises and opens for business. However, this all-too-prevalent claim practice could be inadequate and harmful if the policy has an extended business income endorsement and post resumption conditions are ignored.
A recent Colorado case illustrates this common practice in business income claims and the outcome of this case could prove to be an industry game changer.
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