The COVID-19 pandemic has ravaged businesses across the country in unprecedented ways. For the first time in modern American history, businesses shut down for months, most in direct response to state and local orders ordering them to shut down. Many will never reopen.
As the surviving businesses begin to reopen and attempt to regain a solid financial footing, many have turned to their insurance policies in an attempt to recoup the revenue they have lost. However, an October ruling from the U.S. District Court for the Northern District of Georgia says businesses will have to look elsewhere for financial recovery. Chief Justice Thomas Thrash has joined courts across the country in rejecting offers for business income coverage because policyholders cannot demonstrate the “direct physical loss” required by policies.
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