The State of Nebraska has yet to adopt a business interruption (BI) bill that would mandate insurers cover COVID-19-related losses. But that doesn’t mean the state won’t introduce such a bill in the future. With more and more business owners filing lawsuits against insurers after having their business interruption claims denied, many lawmakers are looking for ways to get the issue resolved as businesses do stimulate economic growth.

While insurance companies are challenging these lawsuits by saying that they aren’t required to cover COVID-19-related claims simply because they didn’t collect a premium for such coverage, business owners across the U.S. feel differently. In fact, without pandemics specifically excluded in many business owners’ policies, many businesses believe their claims are being wrongfully denied.


Which states have introduced a BI bill?


So far, the Insurance Journal has reported that New York, Pennsylvania, New Jersey, Louisiana, Ohio, Massachusetts, and South Carolina have introduced BI bills, however, they have not yet been passed. Although each of the BI bills that have been introduced so far stipulate different terms, they are similar in a sense. To give you an idea of what lawmakers are looking to achieve with these BI bills, here is what Pennsylvania’s HB 2372 calls for.

According to the Insurance Journal, HB 2372 “calls for any insurance policy that covers loss or damage to property, including the loss of use and occupancy and business interruption, to cover business interruption losses due to global virus transmission or pandemic. If enacted, the legislation would be retroactive for policies in force on March 6, 2020, when a Proclamation of Disaster Emergency was first declared in the state regarding this pandemic.”


What will likely happen if BI bills are passed?


The insurance industry is feeling a significant amount of pressure right now from lawmakers, insurance claim denial lawyers, and business owners. However, that doesn’t mean it is going to cave and begin covering claims, even if BI bills are passed. The insurance industry isn’t prepared to take a loss that could potentially put smaller insurers out of business and therefore, would likely challenge these bills if they were adopted. What this means is that if your insurer denied your business interruption claim, it is best not to wait for a BI bill to be passed.

Instead, you should consider retaining a Nebraska insurance claims denial attorney.

If your business in Nebraska suffered losses as a result of COVID-19 and your insurer denied your business interruption claim, is here to help you locate a Nebraska insurance claim denial attorney in your city. Because insurance companies are standing firm on their decisions to deny business interruption claims, the only way you stand a chance at getting your claim approved is with the help of an NE insurance lawyer.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.