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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everis

everis an NTT DATA Company is a multinational consulting firm that offers business and strategic solutions, development and maintenance of technological applications and outsourcing services. The company, which operates in the telecommunications, financial, industrial, utilities, energy, public administrations and health sectors, reported 1.03 billion Euro in turnover last year. It currently employs 21,000 professionals at its offices and high performance centers in 16 countries.

OTHER ARTICLES

AI is Real—and It’s Helping Corporate Legal and Insurance Claims Professionals

Article | April 1, 2020

There’s been a lot of talk about artificial intelligence amongst those involved in the insurance technology (insurtech) and legal industries, and for very good reason. AI is a transformative technology that has the power to revolutionize how legal and claims litigation work is performed. Indeed, with AI in their corners, legal and claims professionals can address many of the challenges that they face on a daily basis, including cost control, staffing levels, compliance with billing guidelines, and more.

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What You Need to Know About Coronavirus and Medicare Coverage

Article | April 1, 2020

Medicare Rights now has a flier with information about Medicare coverage and coronavirus.Congress passed legislation (H.R. 6201) that would waive all beneficiary cost sharing for coronavirus testing and the associated doctor’s office visit. The President is expected to sign the bill soon. Early Saturday, March 14, the House passed legislation (H.R. 6201) that would waive all beneficiary cost sharing for coronavirus testing and the associated doctor’s office visit. A Senate vote is expected soon.

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Digital transformation in the Insurance industry: are you there?

Article | April 1, 2020

The insurance industry is powered by vast and growing volumes of data and stands to benefit from eliminating the manual processes and workflows that other industries have already replaced. While the largest insurers can easily afford the new technologies and digital transformations necessary to stay competitive, smaller and mid-size organizations are struggling. If they don’t finish the task of transitioning away from paper-based, manual processes they risk falling behind and losing money.

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Coronavirus and insurance: threat or opportunity?

Article | April 1, 2020

The world is facing an unprecedented situation like never before. In the span of a couple of weeks, a visually undetectable virus has wreaked havoc and driven everyone home. COVID-19 had led offices to close, the economy to slow down, and has isolated us in our homes. Zooming in on the insurance industry, the effects haven’t gone unnoticed here either. Since no one was prepared for a pandemic of this scale, people are scrambling to know what their insurance covers. Those who weren’t covered are enquiring if they can get covered now. Travel and health insurance are the specific types are making the most news.

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Spotlight

everis

everis an NTT DATA Company is a multinational consulting firm that offers business and strategic solutions, development and maintenance of technological applications and outsourcing services. The company, which operates in the telecommunications, financial, industrial, utilities, energy, public administrations and health sectors, reported 1.03 billion Euro in turnover last year. It currently employs 21,000 professionals at its offices and high performance centers in 16 countries.

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