A Conversation With: Attorneys Daniel K. Bryson, Shanon J. Carson and Greg Coleman

The coronavirus continues to have dire effects on businesses across the country, and the franchise industry is no exception. Franchisors across segments are strategizing new ways to support their franchisees, keep customers satisfied, help local communities and come out stronger on the other side of this crisis.

To that end, 1851 Franchise publisher Nick Powills and Charles Internicola, founder and partner of the Internicola Law Firm , are covering the coronavirus and its impact on businesses through our A Conversation With webinar series.

Here are some of the key insights from their discussion.

Everyone has had to adapt to this situation in a short amount of time. This is a new reality, and it’s going to go on for the next few months.

Lawyers are helping small businesses affected by COVID-19 across the country and advising them on all kinds of issues, including business-interruption insurance and the Paycheck Protection Program.

Businesses need to review their insurance policies to see where they can get coverage and make claims immediately. Regardless of the type of business you own, review your policy and reach out to your counsel to see if there is a viable claim.

Most businesses may have never reviewed their policies, and the language can be dense. Business owners need to call their insurance agents and learn everything they can about their policies.

Law firms have created consortiums to review the thousands of new insurance contracts that are sent to them. Staff members have been trained to look at these dense policies and know what issues to look for. As always, the devil is in the details. There is an enormous difference between what is covered and not covered, and it takes a lawyer to effectively analyze these contracts.

Even if your contract has a virus exclusion, you might still have a shot at coverage if, for example, your business is closed due to a civil order to stay at home.

As soon as businesses become aware of potential losses, they must send a letter to their insurance companies.

Insurance policies are meant to provide coverage for catastrophic events, and COVID-19 is a disaster not unlike a hurricane or an earthquake, but not everyone may see it that way. People are not aware that it’s a cat-and-mouse game. Insurance companies want to avoid providing coverage. Some states have acknowledged that business owners will face a tough battle getting coverage, and some states have told insurance companies to make sure they are correct when they make a denial.