We are receiving a number of phone calls with regard to insurance policies as it relates to my clients veterinary practices.
I want to talk about three things today.
- Business Income Insurance or Business Interruption,
- Workers Compensation
Business Income or Business Interruption.
Unfortunately in many cases these policies will not assist you or not pay out a claim because of loss of income due to Covid-19.
The reason for this, is Business Interruption insurance generally only applies if there is a direct physical loss to your building. Meaning, your building needs to be damaged or your location that you’re in needs to damaged, as a covered loss on the policy. Many policies exclude specifically Virus & Bacteria and because of this your policy may not offer coverage or in most cases won’t.
Always, always, always check with your agent and if you feel like you should file a claim or feel that you want to file a claim for business income or business interruption you should absolutely do so.
The only way to be 100% sure that you have coverage is to file a claim.
Second, I’m getting asked about Workers Compensation Insurance.
Workers Compensation is not going to apply to Covid-19. The reason for that is need to be working as a Health Care Worker, Municipal Worker, EMT’s, First Responders, Police, Fire. Those are the employees or the classifications that are going to have coverage for Workers Compensation Insurance related to Covid-19.
Otherwise if you got the normal Flu and needed to be out, on a normal year, not during a Pandemic you would be able to file a Workers Compensation claim. So Workers Compensation is not going to apply when it comes to Covid-19 for the majority of Americans regardless of what your profession is.
Lastly, I’m getting asked about doing delivery as a veterinary practice.
Some veterinarians are exploring doing delivery of medicine, vaccines, picking up labs and delivery food to, to their, to their clients.
This absolutely an option you should explore if you are looking for some revenue during these unprecedented times we’re all living
though, but make sure that you have Hired & Non-Owned Auto and you’ve confirmed with your agent that your carriers ok with short term delivery exposure on you policy.
Hired & Non-owned auto’s gonna protect you and your team member or you yourself for doing that delivery to your client. However, your
employee or team member who’s doing that delivery needs to check with their agent to make sure that, that delivery exposure is ok on their personal auto policy. Hired & Non-owned auto coverage for commercial insurance only provides liability, it does not provide physical damage.
So if your employee was to get into a car accident with their car doing delivery or picking up lab results, at one of your clients homes they would not have coverage for the damage their car. The liability would be covered, but the physical damage would not.
I hope this answered some of your questions about, insurance as it relates to your practice. We’re all living through unprecedented timed. I’m talking to you from my home office because I’ve need to make changed to my operations as well.
There are many opportunities out there for loan assistance & disaster assistance and I ask that you explore those to help, you and there’s some resources linked to this video.
Lastly, our teams are looking to us for leadership. I know my team is, and I know your team is, I’m sure as well.
Unemployment numbers just hit 10 Million and they’re gonna continue to go up. Our team members need that stability, clarity, simplicity
moving forward and I hope I was able to provide some of that to you today. If you ever have questions about insurance reach out to your insurance agent, agency or insurance carrier to ask.
Or talk to a professional with Butler Vet Insurance!
I hope this message finds you safe and well.
Your Butler Vet Insurance team members are working remotely to serve and protect you.
Here’s 5 easy ways to reach the team at Butler Vet Insurance anytime:
Your experience with us may be a little different during this time of uncertainty is greatly appreciated. Although our physical office is closed, our team remains 100% committed to serving you.
BELOW ARE RESOURCES TO HELP YOU IN THESE UNPRECEDENTED TIMES:
PLEASE CONTACT US OR YOUR INSURANCE CARRIER –
THEY MAY HAVE FLEXIBLE BILLING OPTIONS IF YOU ARE EXPERIENCING A HARDSHIP.
WE CAN ASSIST YOU!!!
BUSINESS INSURANCE & COVID-19 RESOURCES:
- Family First Coronavirus Response Act (FFCRA) – Employee Rights Poster
- Webinar about HR, Business and Covid-19
- Business Interruption and Delivery Insurance
- Caliper: You’re Suddenly Managing Remote Teams. Now What?
- Steve Anderson: Protect Yourself From Coronavirus Scams
- Angela Adams: We Can Prepare Your Agency for a Successful Remote Work Environment
- Harvard Business Review: 15 Questions About Remote Work, Answered
- LCG: Cybersecurity Threats and How To Stay Safe During the COVID19 Pandemic
- Forbes: How Coronavirus Is Creating a Watershed Moment for Remote Work
- The Hartford: Business Continuity Planning for Infectious Disease Event
- PaySphere: Tips to Handle an Infectious Disease Outbreak
If you need any other assistance, or have questions about insurance or any other subject, please reach out to us. We are here to help and support you, your family and your business in any way humanly possible.
We appreciate this and every opportunity to serve you!
Bill Butler and the whole Butler Vet Insurance Team