Our team at Brown & Brown Association Services Professionals hopes that you, your family and loved ones are healthy and safe during these challenging times. Here at Brown & Brown we are taking the necessary precautions to ensure the health and well-being of our employees, customers, agency partners and communities. In keeping with the CDC recommendations to practice social distancing we have postponed face-to-face meetings and are conducting business via phone and virtual engagement tools. However, we want to reassure you that we are open for business and available to take care of your insurance needs.
Our agency is getting many inquiries regarding the insurance implications of this virus, and the most common question relates to business income, specifically: “Is there business income coverage if a governmental authority (civil authority) requires businesses to close?”
The short answer is no, there is no business income coverage. Before business income responds, there must be damage to property leading to the cessation of a business. This requirement applies to business income dependent property losses and civil authority losses covered by business income policies. Additionally, there is a specific property exclusion applicable to viruses that may (generally will) apply.
The above is true of “standard” business income forms; there may be some proprietary forms that respond, but these are rare and not likely found in policies for small businesses.
Insurance brokers do not have authority to make coverage decisions as that ability rests solely with the insurance carrier. Additionally, given the rapidly evolving COVID-19 situation there may be pending or future legislation introduced with the intent to override, alter or amend current policy language. Therefore, all claims should be submitted to the carrier for determination of coverage.
If you are interested in filing a claim, please submit your information through the form to the right. For additional information, please visit our COVID-19 Resource Portal.
We understand the concerns regarding this situation and are monitoring the insurance marketplace closely for updates and changes that may affect coverage in the future. Be sure to check federal and local governments, the ADA, your state association and our website for current information.
Please be advised that any and all information, comments, analysis, and/or recommendations set forth above relative to the possible impact of COVID-19 on potential insurance coverage or other policy implications are intended solely for informational purposes and should not be relied upon as legal advice. As an insurance broker, we have no authority to make coverage decisions as that ability rests solely with the issuing carrier. Therefore, all claims should be submitted to the carrier for evaluation. The positions expressed herein are opinions only and are not to be construed as any form of guarantee or warrantee. Finally, given the extremely dynamic and rapidly evolving COVID-19 situation, comments above do not take into account any applicable pending or future legislation introduced with the intent to override, alter or amend current policy language.