Business Interruption Insurance and the Pandemic

In a number of states, legislation has been proposed to compel insurance companies to pay business interruption losses. Before I discuss the 2 biggest issues related to this pending legislation, let me recap exactly what business interruption insurance is. Business interruption (BI) coverage is a form of indirect PROPERTY insurance. This mean’s a covered peril in a property policy must cause a loss, and that insured loss must, in turn, trigger the business to shut down operations. For example, if a business’ building were destroyed by an arsonist, the covered peril of fire caused the property loss. The business’ BI