Friday, 30 November 2007 17:00

Small Businesses May Qualify for Business Interruption Coverage

Southern California small business owners – including many autobody repair shops and related autobody businesses – were reminded by California Insurance Commissioner Steve Poizner to carefully review their insurance policies for business interruption coverage as recovery efforts get underway.

 

“The Southern California wildfires have caused a tremendous amount of damage and destruction for many families and businesses,” said Poizner. “As the backbone of our state’s robust economy, California’s small businesses were hit especially hard by last week’s devastating blazes. I want to make sure that our state’s small businesses are fully equipped to recover quickly from this disaster.”


Small businesses located in areas that were evacuated due to last week’s wildfires should review their business owners’ policies (BOP) and check for business interruption coverage. Standard BOP policies typically include business interruption coverage.


If a business located near the fires was prevented from conducting regular business due to the wildfires, they should also review their policies. Impacted businesses in regions surrounding evacuated areas may be eligible for business interruption coverage as well.


Small businesses impacted by the wildfires can contact their local SBA Office (www.sba.gov) for additional information and resources.

  

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