Over the last three weeks, we have analyzed the issues and impact of business interruption on various types of policies: (i) property policies;1 (ii) D&O policies2 ; and (iii) professional liability policies.3 It is clear that though there may be broad legal principles of policy interpretation that apply to all these policies, there is no one right or definitive answer that applies to all these policies. There is no “one size fits all” answer to the question, what coverage may be available to an insured for business interruption resulting from COVID-19. Each fact and business interruption should be reviewed against the specific type of policy at issue.
As the world moves towards the slow and steady reopening of businesses, it is important to consider some big picture questions that insureds, insurers, courts and legislatures will likely be confronted with when determining business interruption coverage and legal intervention to provide relief to businesses who have suffered, in some circumstances, devastating losses by these closures.
To learn more about these legal updates, read the full article here.
