Business owners often need insurance coverage in case unforeseen circumstances arise that could affect their business. The business owner can use their insurance to file a claim and recover the losses from these circumstances. Most business owners may have peace of mind in having insurance. This type of insurance is often referred to as business interruption insurance since it provides assurance if regular business is interrupted for reasons beyond their control.
While business interruption insurance exists to provide assurance, simply having insurance doesn’t necessarily mean the insurance company will approve your claim when a natural disaster or pandemic occurs. If you’re involved in a Pennsylvania business insurance dispute, you need experienced representation at your side to protect your rights and your business. The personal injury lawyers at Shrager & Sachs are here for you.
At Shrager & Sachs, we understand the importance of business insurance and how it can help business owners continue to operate and stay financially afloat. For many people in Philadelphia and throughout Pennsylvania, their business is how they maintain their living. When you need to file a business insurance claim, you shouldn’t have to worry about the hidden ways insurance companies will use to deny your claim. With our lawyers at your side, you’ll know we’re going to protect your best interests and build you the strongest case possible. If the insurance company has already denied your claim, then our lawyers can help you contest the denial.
Philadelphia Businesses Are Facing Issues Because of COVID-19
Right now, during the COVID-19 (Coronavirus) pandemic, it is a troubling time for businesses across Pennsylvania. The novel coronavirus has had an unprecedented affect on the world. While the issues above may be fixed in a set amount of time, COVID-19 has different parameters. To protect the general public and stop the rapid spread of the virus, many businesses deemed non-essential have been closed.
It’s uncertain how long this will go on as there are new developments every day. You may be under a significant amount of stress as this issue is ongoing and cannot be fixed like a broken window from wind damage. Paying bills to keep the business afloat, managing employees who may depend on you for their way of life, and trying to keep up with your own financial matters is so much for one person to handle—and there isn’t a definitive date when the world will resume its normal pace.
Insurance interruption claims for losses due to the coronavirus are certain to inundate insurance companies. However, COVID-19 hasn’t caused physical damage to the business. It may result in insurance claims issuing denials to business owners who desperately need support from insurance. A denial is daunting to contend with on your own—let the personal injury attorneys from Shrager & Sachs help you contest it.
Pennsylvania Business Interruption Insurance
In Pennsylvania, business owners need to have insurance to cover various needs. According to the Pennsylvania Insurance Department, the insurance needs include:
- Protecting business employees
- Protecting the business
Insurance that protects business employees includes health and workers’ compensation. Insurance Facts for Pennsylvania Consumers states employers are responsible for meeting specific duties for their employees. They include providing a safe place to work, the employee should have enough competent fellow employees, safe tools and equipment, have safety procedures and rules to protect the employees, and to provide employees with warnings of dangers.
With this coverage in place, if something happens where employees get sick or are injured while working, they have the coverage they need. For example, if a work-related disability or death results from an accident at work, the employer is responsible for medical expenses and lost wages.
There are myriad ways that business owners need to protect their business. Let’s go over the different kinds of business claims you should know about.
What Are the Types of Business Claims?
When you’re running a business, there are a number of risks involved. While you may be aware of some of these risks, there could be some you haven’t thought about. It’s important to know the possible risks so you can make sure you have the insurance necessary to protect your business.
- Water Damage
- Wind Damage
- Fire Damage
- Premises Liability
- Product Liability
Weather, crime, injury, and contamination are all concerns for business owners. When one of these affects your business, it’s important to act quickly so you can get the coverage you need. Our lawyers are ready to help you fight to get necessary compensation to protect your business during an interruption.
What Should Businesses Owners Do If Their Insurance Claim Is Denied?
Receiving a denial for your interruption insurance claim can be demoralizing and you may not know what to do next. Appealing an insurance claim takes knowledge of the laws that apply to your claim and experience in contesting denials. Shrager & Sachs believes in standing up for small business owners who are facing difficulties during the COVID-19 shutdowns and we’ll do everything we can to help you.
Why Would Insurance Deny Your Claim?
One of the first steps will be identifying why the insurance company denied your claim. Common examples include:
- Coverage limits exceeded
- Suspected fraud
- Claim wasn’t filed on time
- Claim is seeking damages for something not in the insurance policy
In terms of COVID-19, it’s likely the insurance company will focus on the last bullet point. Pandemics that shut down businesses, schools, and our ways of life aren’t something we’re accustomed to. Seeking insurance because of a mandated shut down can be complex. Our lawyers will do everything possible to contest the claim and show that your claim is valid.
Shrager & Sachs Is Here to Help Businesses in PA
During this uncertain time, its important to have representation on your side that will fight for your best interests. We will fight against the difficult circumstances COVID-19 has caused. Small businesses need a fair chance to survive this pandemic so when it’s over, Pennsylvania and Philadelphia citizens can support their favorite local businesses again.
Get in touch with our office today so we can help you as quickly as possible. The sooner we can review your claim and find out what happened, the sooner we can build you a strong argument to contest the denial. The lawyers at Shrager & Sachs are ready to answer your questions and find the best way to help you.