New Coverage to Assist Businesses Impacted by COVID-19 — Temporary Insurance for Suspended Businesses
Highlights
- Coverages available: GL and incidental Property
- GL coverage will be offered with an Ongoing Operations exclusion CG2153 (products-completed ops, PI/AI, med pay coverage not excluded)
- 90-day policy term
- GL flat charges range from $300 to $500 based on risk type ($1/$2MILlimits); property MP is $100
- Premium is 100% earned
Thumbs Up – Eligible
- Business is temporarily closed due to local, state, or federal ordinance requirements around COVID-19 pandemic
- Business must have had continuous insurance coverage for the past three years (or for the number of years in business if less than three. Exceptions for small lapses may be acceptable.
- Targeted business will have average annual receipts under $500,000 per year prior to temporary shutdown
Thumbs Down – Not Eligible
- Bars, taverns, nightclubs, apartments, hotels, motels, janitorial, temporary, or semi-permanent site & Facilities. Designed to test, diagnose, or evaluate for communicable disease.
- Business that have permanently closed or those that have no intention of reopening after 90 days
- Vacant buildings (all business personal property and stock has been removed)
- Project specific construction sites
- Monoline property
What we need
- Business Description
- Latest Acord and supplemental applications
- Copy of current policy Dec page and forms schedule
- Expected term of business suspension (if beyond 7/15/2020)
- Loss history
Call Anderson and Murison today at 800.234.6977 ext 220
We can help your customers during these unprecedented times
Media Contact:
Mitch Jawitz
800.234.6977 ext 231
Read our latest COVID-19 coverage.
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