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COVID-19 - Business Insurance coverage (Q&A #2)

COVID-19 - Business Insurance coverage (Q&A #)

COVID19- 商業保險問與答 (問答2)

The coronavirus outbreak has left many small business owners wondering if their insurance covers losses caused by the pandemic.


What does a business income policy normally cover?


Also called business interruption insurance, business income coverage is a standard endorsement that can be added to a business owner’s policy.

Business income is part of a property policy that would cover an insured for loss of income resulting from a “covered loss.” For example, if a business’s office burns to the ground, the company will not be able to generate revenue. Business income would provide a level of reimbursement, which is detailed in the policy itself.



Am I covered if the government forces my business to temporarily close? What if my geographic area is affected by “shelter in place” rules?


Most policies do not cover a “civil authority” (any branch of federal, state, or local government) forcing your business to temporarily close. Unless direct physical damage occurs on your property or adjacent properties, coverage is usually not triggered.

However, disaster relief loans may be available to small businesses affected by mandatory closings due to COVID-19. This is a pending development, and we’ll update this section with more information once it’s available.




If you have more questions about insurance, feel free to contact us!

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