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July 29, 2020

Faced with catastrophic losses, small firms battle insurers over pandemic coverage

  • Business interruption insurance claims have been almost universally rejected for a variety of reasons, including provisions inserted after the SARS outbreak to exclude disruptions caused by virus and bacteria.
  • By MICHAEL LIEDTKE
    AP Business Writer

    Restaurants, bars and other merchants struggling to stay afloat during the coronavirus pandemic are desperately reaching out for a lifeline from insurers that in turn contend they are being miscast as potential saviors.

    Shutdowns and crowd restrictions imposed by state and local governments to limit the spread of the virus have resulted in more than $1 trillion in estimated losses so far for thousands of rapidly sinking small businesses.


     
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