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Policyholders: Beware of COVID-19 Claim Costume Limitations!



Many policyholders with COVID-19 loss of business interruption should take action now to preserve their claims.

As the anniversary of the COVID-19 pandemic and related state shutdown orders approaches, it is important for policyholders with business interruptions or other losses to review their policies for any issues regarding the timing of recovery. Many insurance policies include restrictions on costume restrictions (or other similar clauses) that limit the time for a policyholder to file a coverage claim. Some of these clauses provide for one year. As is often the case, the law on how such restrictions apply varies depending on the jurisdiction. Furthermore, the time at which their applicability occurs or is calculated ( eg varies from the date on which a company denies coverage compared to the date of the alleged loss) depending on the specific policy language. The issue is further complicated when a policyholder's losses (or still are) ongoing for interruptions in connection with interruptions in connection with COVID-1

9, which affects how to assess any time-related provisions. However, many courts have argued that such provisions act as contractual limitation periods, which precludes litigation if the policyholder is correct after the specified period. . However, it is unclear whether insurance companies will approve such a request. Policyholders should therefore review their policy for any suit restriction clauses to ensure that their rights are protected. If the insurers refuse such agreements, the policyholders must consider bringing an action in order to preserve their rights to coverage.


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