Are you unsure about if your insurance policy covers business interruption?
Coronavirus (COVID-19) has brought up many questions surrounding how Canadian insurance policies may respond to business interruptions. Unfortunately, there is not generally coverage offered from commercial insurance and traditional business interruption policies that will cover disruption due to pandemic. Most business interruption policies have a physical damage requirement, where the insured premises would have to be physically damaged due to a covered cause under your commercial property policy (such as fire, storms or flood), which then causes an interruption resulting in a loss of business income.
There is not one general answer or advice regarding how your insurance policy will respond, since each insured’s policy terms and situation will vary widely. The first step we encourage you to take is to review the terms in your insurance policy, including any endorsements and exclusions. We understand that commercial insurance can be complex and differs between businesses, so If you have questions regarding your coverage or need clarification, don’t hesitate to contact us. Whether you are a Fuse Insurance client or not, we’re here to help.
Business as usual at Fuse Insurance
As a digital insurance brokerage, we are fully equipped to operate remotely and want to reassure you that we are here to assist you in any way possible. We are still available by phone, email and video chat to assist you and keep your business running smoothly. Visit our contact page here, call 1-866-387-FUSE (3873) or email support@fuseinsurance.ca .