FVS Eye on Fraud

Consideration of fraud in business interruption claims. Although business interruption (BI) insurance typically covers losses resulting from disaster-related damage and other perils, events, hazards, incidents or losses, during these difficult times many insurance carriers are denying COVID-19-related claims. Some businesses have filed lawsuits against their carriers, and state legislatures are fighting to mandate certain coverage. To date, several states have introduced legislation that would require insurance companies to cover claims for business interruptions due to COVID-19. These litigated and legislated matters are likely to remain in the courts well beyond the publication date of this writing.

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