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Volume 27, Issue 3

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Can a Business Recover for Income Losses After it Restores its Premises and Resumes Operations? Understanding Business Interruption Claims

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.

To read the article, please click here:

http://www.propertyinsurancecoveragelaw.com/2012/09/articles/commercial-insurance-claims/can-a-business-recover-for-income-losses-after-it-restores-its-premises-and-resumes-operations-understanding-business-interruption-claims/