Business Interruption Insurance Claims, Lawsuits & Potential Bailouts – Know Your Options

April 24, 2020 11:37 AM | Judy Pfeiffer (Administrator)

Kelleher & Buckley, LLC offers their clients a wide range of legal services including corporate representation, estate planning & administration, litigation services and tax wealth & structuring. Since 1997, they have been dedicated to protecting individuals, families and businesses alike.

Tremendous losses are being suffered by businesses during this COVID-19 pandemic. Many businesses have already begun to file Business Interruption Insurance (BII) claims with their commercial insurance carriers, and some have even filed lawsuits against carriers denying coverage. Moreover, some states have introduced pro-business legislation intended to override policy exclusions for communicable diseases and mandate that insurance companies pay out claims.

The claims, litigation and pro-business legislation are expected to increase, placing extreme economic hardship on the commercial insurance industry. This trend could lead to federal and/or state government intervention in the form of bailouts and cost-sharing stopgaps. A potential wave of class action lawsuits could also be on the horizon. Are you ready for the possibilities?

Business owners should immediately consider having their commercial insurance policies reviewed by an attorney to evaluate any BII coverage. With or without communicable disease or similar policy exclusions, BII coverage may present opportunities to recoup actual or expected lost profits during these unprecedented times.

Kelleher & Buckley, LLC can help you assess your options regarding any one or more of filing a claim, filing a lawsuit and/or preparing you to participate in any possible future bailouts and class action lawsuits.

Please contact Andrew J. Kelleher (akelleher@kelleherbuckley.com), Robert Krug (rkrug@kelleherbuckley.com) or Samuel Weyers (sweyers@kelleherbuckley.com) at 847-382-9130 for a FREE initial consultation.

Andrew J. Kelleher
Kelleher & Buckley, LLC
102 S Wynstone Park Drive 
North Barrington, IL 60010
847-382-9130 
akelleher@kelleherbuckley.com

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