Does Business Interruption Insurance Cover COVID-19 Closures?

| April 2, 2020

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Our clients are asking us: Do commercial property and, specifically, business interruption insurance policies provide coverage for COVID-19-related losses? As discussed below, it is critical that you promptly review your company’s policies, exclusions and relevant endorsements to evaluate whether your business has coverage in the wake of COVID-19. If appropriate, you should make a claim with your insurance carrier.

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CRESCENT STAR INSURANCE LIMITED

The Crescent Start Insurance Company Limited is a registered insurer with the Securities & Exchange Commission of Pakistan. The company is also listed on Karachi and Lahore Stock Exchange. It is also a member of Insurance Association of Pakistan.

OTHER ARTICLES

How AI is bringing the insurance industry into the future

Article | March 12, 2020

Technology is advancing every day, and it’s disrupting industries from retail to manufacturing to insurance. It has become increasingly apparent that AI, blockchain and machine learning have the power to transform the future of business and the way people work and live. These new technologies are already being applied in the insurance industry. Some insurance companies are using AI and machine learning to automate certain parts of the claims handling process and improve customer service. Blockchain is being used to detect fraud and prevent risk.

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Can AI Solve Health Insurance Fraud?

Article | February 18, 2020

Insurance fraud scams seem to make the news at least every month, as organized criminals seek to exploit the way insurers reimburse clinics, pharmacies and other providers for their services. What’s often shocking is how much money fraudsters can steal from insurers before they’re caught. Recently, in a single month, two separate alleged fraud rings based in California were busted for scams that investigators say netted $20 million or more.

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Does Your Business Interruption Insurance Cover COVID-19-Related Losses? Are You Sure?

Article | April 8, 2020

The COVID-19 coronavirus emergency has everyone scared, and many are imagining the worst. For business owners and managers, there is a fear that what you, your employees, and your customers or clients have built will be lost – through no fault of your own. And we don’t know how long the financial impact of the pandemic will continue.

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How artificial Intelligence is changing insurance

Article | April 4, 2020

Here, we present the global megatrends that risk disrupting the insurance industry, and look at some of the insurtechs using AI to succeed Insurance is an industry that thrives on predictability. The more certain the outcome, the more insurance firms can be sure to offer fair rates and generate value for customers and shareholders alike. As such, it’s an industry that has been slow to adopt new technologies and adapt to global change. Today, however, change is here, and more is on the way.

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Spotlight

CRESCENT STAR INSURANCE LIMITED

The Crescent Start Insurance Company Limited is a registered insurer with the Securities & Exchange Commission of Pakistan. The company is also listed on Karachi and Lahore Stock Exchange. It is also a member of Insurance Association of Pakistan.

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