The World Health Organization has reported that Coronavirus (COVID-19) has infected more than 88,500 individuals worldwide, with deaths over 3,000 individuals. Fear of a potential pandemic has led many countries to cancel flights from highly effected countries, institute quarantine procedures, and close borders. Many organizations have taken steps to eliminate any unnecessary business travel overseas. In light of these unusual circumstances, NFP advises companies to review their insurance policies, specifically those with Business Interruption and Commercial General Liability coverage.
You may not realize that standard un-endorsed Business Interruption policies WILL NOT extend to business interruption caused by a bacteria or virus.
If you have concerns regarding Coronavirus COVID-19 and potential impacts to your business, please contact your Account Executive at NFP Brokers for assistance with policy review and coverage questions.