None of these companies had any kind of business interruption insurance??
I am sure they do but collecting money from the Insurance companies while Cruise line ships are intact may be a problem. -Tom
______________________________________________________
Business interruption insurance, which replaces lost business income when a covered property loss causes a business to reduce or suspend its operations, may sound like the perfect solution, but it really isn’t.
Business interruption coverage is triggered when a covered peril causes damage to covered property. The damage must be sufficient to render the property unusable in its current state.
A standard policy, for example, would cover lost business income if operations are interrupted because the manufacturing facility is destroyed by fire.
Coronavirus-related claims are unlikely to cause the property damage needed to trigger business interruption coverage.
Even if facilities (offices, warehouses) or inventory (raw materials, fish, produce) are rendered unusable by COVID-19 contamination, business interruption coverage would be unlikely because standard policies typically contain exclusions for bacteria, viruses and other pollutants.
I thought I had business interruption insurance. Twelve years ago a power surge fried my printer making me unable to print shirts. I filed a claim. Denied. I couldn't "prove" it was a power surge that fried my printer.
COVID-19 hits and an insurance agent friend of mine suggests I file a business interruption claim. After three weeks of going back and forth - denied. It seems that a government order shutting me down is not covered.
So I asked, "What is covered?"
"If you had a fire and were unable to operate."
"Oh, so natural disasters?"
"No, a fire."
"But what if the fire was caused by a natural disaster?"
"You aren't covered."
"What about a riot?" Crickets...
I have requested several times for clarification on whether or not my business would be covered if looted during a riot.
They will not answer. This is Nationwide Insurance.