Corona virus has put the economy in a stand-still position. Different medical facilities are provided to the person to stop the loss of life. Several restrictions have been put in the business industries in the pandemic. A business person is advised to have a cover over the losses due to the corona virus. The business of the person will be adversely affected through the pandemic and left the company into crises. Now, the question is asked - Does Business Interruption Insurance Cover COVID-19 Coronavirus?

Business interruption coverage will pay out the lost income of the uncovered loss as there can be problems in obtaining the lost income under the disaster outbreak or pandemic. The policy can cover the physical, financial damage to a specific property of the business. The amount of the loss should be specified to the insurer to provide reimbursement. Earlier, there was no inclusion of the pandemic loss to the company under the policy.

Exclusion of the loss to the business under Business interruption insurance

The following are the things that are not included in the insurance coverage policy for the business person. Readout will provide proper information to the business person –

Damage resulting from a virus – The policy states that the loss occurred due to the bacteria or virus that will not be paid to the business firms. An exception has been amended for the fungus to the firms. The virus will provide physical illness or distress to the person. The person should read the policy thoroughly and offer it for the business.

Damage due to pollutants – As specified in the paragraph of the policy, there will be no protection under the contaminants. The loss or damage to the physical property will not be provided through the business interruption insurance cover. If the damage is to a specific property, then it can be provided to the business person.

Damage due to dry bacteria – The damage to the business due to dry bacteria will not be provided to the policy to the person. Along with it, there can be some exemption regarding the fungus loss to the business. The amount of the damage will be increased due to the virus or bacteria, and it cannot be provided through the business interruption insurance policy.

Thus, the exceptions and exclusions of the insurance cover should be in the notice of the business person. The terms of the policy will not provide any loss coverage to the prohibitions stated in the paragraph. All the provisions should be understood to the person while taking the policy. The loss due to the COVID-19 outbreak will be borne through the person solely.

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