As COVID-19 becomes increasingly widespread, it is not just raising fears regarding the well-being of the average person, but it's also disrupting business operations and creating insurance exposures. In reality, COVID-19 has led to business interruptions, logistics issues and significant liability concerns-all ones can open policyholders around claims. Consequently, it is necessary for businesses to understand how COVID-19 can impact their insurance coverage, review their existing coverage and determine what precautions they should ingest to control their losses.

The following examines potential insurance exposures linked to COVID-19 and just how variations of coverage could respond.

BUSINESS INTERRUPTIONS
As much operations close because of COVID-19 fears, you will find there's growing question of whether or not business interruption insurance may help policyholders replace with lost revenue.
In the case of a loss of revenue, business interruption insurance provides coverage for income a company would have earned been there been operating normally. This may also aid in paying for expenses like employee wages, taxes, rent, loan repayments and relocation expenses.
Typically, business interruption insurance is triggered by a direct physical loss or damage. Under this interpretation, contagious diseases like COVID-19 wouldn't normally count as being a covered loss.
However, some reason that COVID-19 can contaminate physical objects like HVAC systems or assembly lines, which in turn would force businesses to cease operations. In these scenarios, business interruption insurance could provide some protection. Still, insurers may push back, making coverage unavailable.
As with all loss, policy wording is crucial and can make all the difference with regards to giving an answer to claims. Policyholders should review exclusions and endorsements alongside an experienced insurance professional to be sure they have got the policy they require.
WORKERS' COMPENSATION INSURANCE
When an employee believes they contracted COVID-19 at work, numerous workers' compensation considerations are important. Notably, with regards to workplace illnesses, most state statues pay only out benefits when the disease under consideration is occupational in nature. In other words that communicable and contagious diseases are likely to be excluded from workers' compensation policies.
However, coverage could be triggered if the illness arose as a result of or perhaps in the course of the worker's employment.
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