Legal Question in Insurance Law in Georgia
small business insurance claim
my boss owns an online store that sells thousands of products. He recently had storm damage and had to suspend his online business for over a month. His loss of business insurance paid up until his very first sale, then stopped payment. Since it's on online store, the first sale does not mean he's back in business per se, but that he just made a sale, as it subsequently took him three more months to actually get back to where he was as he had to wait on the online vendors to post his products again. My question is: does the insurance company owe him more money for loss of business?
2 Answers from Attorneys
Re: small business insurance claim
Your boss can read the policy. We have no idea what is or is not covered.
Re: small business insurance claim
Short answer--"yes." If he has business interruption coverage that is supposed to be based on the income stream. If he has no (or little) income stream he is not back "up and running."
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