Core Assurance Partners is here to help you navigate the challenges posed by COVID-19. Our team members remain fully operational and equipped to serve you and your daily insurance-related needs. As the situation develops and we continue to monitor the insurance marketplace, we will update the resources found here.
- Coronavirus (COVID-19)
- World Health Organization
- Centers for Disease Control and Prevention
- U.S. Department of Labor
- OSHA Guidance on Preparing Workplaces for COVID-19
- U.S. Department of the Treasury
- U.S. Small Business Administration
Business Interruption Considerations
Many of our clients have questions on insurance coverage when it comes to how COVID-19 is affecting them – particularly regarding Business Interruption insurance.
Business Interruption losses resulting from a virus and/or pandemic peril are typically excluded from coverage under a standard property policy. In addition, Business Interruption coverage generally requires a direct physical loss in order to trigger the coverage. Ultimately, Business Interruption coverage will depend on the facts of the case, but insurance companies are likely to argue that a virus and/or pandemic is not a covered peril, nor does it constitute direct physical loss.
The discussion on this topic is far from over. We are actively monitoring developments and directives from various legislative bodies related to financial relief and insurance company responses. If there are mandates that affect how insurers will respond, we will provide updates here.
Attention Personal Auto Policyholders
Many insurance companies we partner with have announced relief programs for their auto policyholders. While the terms vary, most are planning to return a percentage of auto insurance premium payments back to their customers for certain months. Premium relief will be done automatically, likely in the form of a credit. To date, the insurance companies we represent that are offering premium relief include: