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The Law Office of Geoffrey D. Ittleman, PA is accepting claims for those persons and businesses that have incurred damages associated with the coronavirus. Contact us to schedule a free consultation today.

Can I or my business recover money from coronavirus related financial losses?

COVID-19 continues to have unprecedented effects on business operations throughout the world. Stay-at-home orders and social distancing recommendations from world health leaders have many businesses limiting the services they provide their communities and changing the way they work. As a result, businesses nationwide are experiencing significant financial loss.

Relief may be available for your business through your commercial property insurance policy and/or the CARES Act, the largest economic stimulus package signed into law in our nation’s history.

Can I File a Business Interruption Insurance Claim?

Now is the time for your business to review your insurance policies and determine whether your coverage supports a claim for loss of business income due to the coronavirus. Timely reporting is critical to preserving your rights under your insurance policies.

Business interruption (BI) coverage is typically included in commercial property policies. Generally, BI insurance protects against economic losses when the policyholder sustains "direct physical loss of or damage to" the insured property by a covered cause of loss. 

The Law Office of Geoffrey D. Ittleman, PA. can help you determine whether your business can file a coronavirus-related claim under your BI coverage and, if you have a claim, work with you to promptly file the claim with your insurance company.

Alternatively, some businesses may have contingent business interruption coverage or a civil authority clause, which may cover losses due to closure or denial of access to the insured property because of a civil authority order (like a stay-at-home order). We can review your policy for you to help you determine the following:

  • Does your insurance policy include business interruption coverage?
  • Can you file a business interruption claim?
  • Do the stay-at-home orders in your area qualify your business for relief?
  • Are there other provisions in your insurance policies that may limit or exclude you from filing a business loss-related claim? 

To get the answers to these and more of your coronavirus-related business questions,  schedule a policy review with The Law Office of Geoffrey D. Ittleman, PA.

What About Other Insurance Policies and Business Considerations?

Your business may have insurance for other types of losses that are relevant to the way COVID-19 has disrupted your business. Event cancellation insurance and travel insurance claims are two common types that policyholders should be reviewing.

  • How do recommendations from the CDC and WHO impact your event cancellation claim?
  • Does a communicable disease exclusion apply to your policy?
  • How does the state of the airline industry impact my travel insurance?
  • What are the applicable dates for my travel insurance?

Reach out to our coronavirus business lawyers to review your insurance policies and determine your overall coverage.

An additional COVID-19 threat to business owners is employer liability - especially in the healthcare and aviation industries. State and federal regulations are changing frequently as new legislation attempts to keep up with the economic downfall. 

  • Are your employees considered “essential” to business operations?
  • Should you reduce hours, cut costs, furlough or lay off employees?
  • Can employees go on emergency paid sick leave?
  • Can you send sick employees home who are exhibiting symptoms of a contagious illness?
  • Does the WARN Act apply to your business?

The employment-related questions facing business in the wake of the coronavirus are plenty. Schedule a consultation with our business lawyers to review your current legal situation in matters including workplace safety, remote work issues, benefit administration, employee leave, workers’ compensation, confidentiality considerations, and FMLA concerns.

Can the CARES Act Help My Florida Business?

The “Coronavirus Aid, Relief, and Economic Security Act” (CARES) is a $2.2 trillion economic stimulus package providing financial relief to families, medical workers, and businesses that have been directly impacted by COVID-19.

At the forefront of the legislation is the provision of $349 billion for businesses through federally backed loans. Qualifying businesses can borrow 2.5 times their monthly payroll expenses for qualified payroll costs, rent, utilities, and/or interest on mortgage and other debt obligations.

The coronavirus stimulus package outlines other provisions that may impact businesses, including programs related to payroll taxes, emergency advances, pre-existing SBA loans, and loan forgiveness. 

Some of the questions you may need immediate answers to include:

  • Does my business qualify for CARES Act funding?
  • What are the loan forgiveness requirements?
  • How does this funding impact my existing business loans?
  • How do I apply for federal funding under the CARES Act?

The Law Office of Geoffrey D. Ittleman, PA is available to consult with businesses about qualifying for CARES Act relief to determine how the federal stimulus funds can help your business survive the COVID-19 pandemic. Contact us today to schedule a consultation.

Contact a Florida Business Insurance Attorney Today

Every insurance policy has unique forms, endorsements and definitions that outline coverage, and we learn a little more about the CARES Act each day. A conversation with a COVID-19 business lawyer can determine whether it’s possible to file a coronavirus-related claim with your insurance company, and help you secure CARES Act relief.

Schedule a consultation with The Law Office of Geoffrey D. Ittleman, PA today to ensure you are utilizing every business benefit available to you under the federal stimulus package and your business insurance policies.

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