Phil's First Party Parlay - Business Interruption with Paul Pritchard | Summary and Q&A

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June 10, 2020
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Morgan & Morgan
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Phil's First Party Parlay - Business Interruption with Paul Pritchard

TL;DR

The video discusses business interruption claims and exclusions in insurance policies, covering topics such as triggers for coverage, virus exclusions, and microorganism exclusions.

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Questions & Answers

Q: Can business interruption claims be brought for essential businesses as well?

Yes, business interruption claims can be brought for both essential and non-essential businesses, as the cause of loss is traced back to the virus itself rather than the type of business.

Q: Are these insurance cases typically filed in state or federal court? Is there a concern about being consolidated in an MDL?

It is generally preferred to file cases in state court if possible. If a case may be suited for federal court, it may be filed directly there. However, concerns about being consolidated in an MDL are not significant due to the diverse nature of the claims and policies.

Q: Do virus exclusions in insurance policies apply to damage to property or direct physical loss of property?

Virus exclusions often apply to damage to property, but not to direct physical loss of property. This interpretation can be supported by the reasonable expectation theory of coverage.

Q: Are viruses considered microorganisms in insurance policies?

There is disagreement among experts about whether viruses are considered microorganisms. Some interpretations include viruses within the definition of microorganisms, while others do not. Ambiguity in the wording of microorganism exclusions can be used to argue for coverage.

Summary & Key Takeaways

  • The video focuses on business interruption claims and exclusions in insurance policies.

  • Triggers for coverage under property insurance policies include direct physical loss of property and damage to property, which can apply to both essential and non-essential businesses.

  • Virus exclusions in policies vary, with some being broad, some being weak, and others leaving out direct physical loss. Strategies exist to address these exclusions, and the reasonable expectation theory of coverage can be applied.

  • Microorganism exclusions also vary in wording, with ambiguity surrounding whether viruses are considered microorganisms. Arguments can be made based on both interpretations.

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