The Houston Rockets recently sued their insurance provider for failing to provide business interruption compensation under the team’s $400 million insurance policy. In doing so, they are believed to be one of the first NBA teams to file a lawsuit to recover losses arising from COVID-19.
The Rockets are certainly not alone in their fight. Both the NCAA and Wimbledon are believed to have recovered in the hundreds of millions of dollars from their insurers due to canceled events and losses. Across the nation, businesses-both small and large-are being forced to file lawsuits due to insurance companies improperly denying their claims for business income losses caused by government shutdown orders during COVID-19. Despite years of accepting premiums, some insurance companies are now refusing to honor their obligations, twisting policy language to their advantage.
Navigating business interruption claims can be a daunting task. Claims often turn on terms buried in countless pages of policy language, exceptions, and addendums.
If your business suffered losses during COVID-19 and your insurance carrier is refusing to compensate you, please contact an attorney at Abraham, Watkins, Nichols, Agosto, Aziz & Stogner by calling 713-396-3964 or toll free at 800-594-4884.