Want to learn a lot about how to handle and what to do with business income loss claims arising from the shut down of American business from Covid-19? Come listen to Amy Bach and I starting today at 12:30. So many attorneys and public adjusters are signing up claims and then asking me—“Chip, what do I do next with these claims? How do I determine if there is coverage? Should I file a lawsuit? What do I need to do before filing a lawsuit? Are there going to be class actions?”

These questions and a lot more are going to be discussed at these two very different discussions today. I would not miss them if you intend sign up these clients and represent policyholders.

Want one example of why you cannot afford to miss these “how to do it” seminars? I read one of the recently filed lawsuits—there are at least 350 of them just filed in federal court–for a business income loss against Lloyds. The allegation for the denial was that the policyholder called his agent to report the loss and the policyholder’s agent said, “the insurer will not honor the claim.” Insurance company attorneys have written all kinds of reasons why there is no coverage for these losses, but they have not been writing about how they are going to slay those who fail to comply with other conditions of the policy. Notice of loss to the insurer is a must. In this instance, there was no notice to the insurer. The agent is the agent of the policyholder because Lloyds is a surplus lines insurer and has a different agent. Even if some crazy theory of waiver or estoppel is going to be used to get around the notice argument, what happens when the proof of loss is not filed? This policy required it to be filed 60 days after the loss occurred—this was not a demand proof of loss.

I am certain many not regularly practicing field of law are asking—“what is a demand proof of loss?

Insurance company counsel are not going to miss these defenses. They raise them all the time.

You can register for the in depth pandemic litigation seminar with Amy Bach and myself at this link. It starts today at 12:30 EST. It is sponsored by Trail Guides and will cost a small amount. I donated my royalties to United Policyholders.

Corey Harris and myself will present our third discussion in a series about proofs of loss at 3 PM EST. I will incorporate some of the ‘what to do” proof issues for compliance for the pandemic cases and here is that link.

Thought For The Day

We are all born ignorant, but one must work hard to remain stupid.

-Benjamin Franklin