Coverage Question Series – Part 28
Post on November 9th, 2018
This is a continuing series in which we address policy coverage questions that we routinely discuss with you and your colleagues. The answers provided are based on the basic policy form, currently LPLP-1s (effective for all policies new or renewed as of May 1, 2018). Refer to your specific policy and any endorsements attached thereto that may change coverage or the answers provided here.
My office caught fire and I am unable to get any work done, am I covered?
Not for business interruption! But a Business Owner’s Policy purchased through our captive insurance agency, the OSBA Insurance Agency, would cover business interruption from fire. Call Tammy and Danna at 614-572-0616 to discuss the risks the Business Owner’s Policy covers.
As I have mentioned before, make sure you have a plan in place so the business interruption doesn’t become a malpractice problem or a letter of inquiry from the Board of Professional Conduct. It is worth the time to review the ability to work remotely to minimize the cost of an unexpected event.
As you should expect, these Q&A scenarios are based on simple hypotheticals. Coverage determinations for an actual claim are ultimately based on the unique facts, applicable law, and the Terms, Conditions, Limitations, Exclusions, and Endorsements of your policy.
Carl Marsh, Esq.