Business Insurance Coverage During the Covid-19 Pandemic

By Dr. Afzaal -VDS™ Chief Biomedical Staff Writer.
Copyright ©2020 VDS – Virus Disinfecting Services™

The effects of the CoronaVirus are widespread. A single virus has brought down the entire structure of society as we all are aware of it. Businesses are now in a state of dilemma. They are wondering about the specific insurance possibilities to combat this unprecedented situation. The revenue loss, accountability of the employee’s health, and welfare remain important issues. These issues are the top priority of every business around the globe.

Insurance Options for Businesses

The effectiveness of a policy depends on how well it works in various situations. Below is a summary of some strategies that may help businesses deal with this pandemic.

  1. Environmental Policies

Environmental policies come to mind almost immediately when dealing with a virus outbreak. However, there is a certain limitation on these types of policies. Furthermore, these would require a thorough review to ensure maximum coverage. A general environmental policy includes coverage of bodily injury and property damage. However, these policies are often tailor-made. The majority of these are according to the exposure to risks of a company/business.

  • COVID-19 Specific Environmental Policy

In the case of a pandemic like the COVID-19, a policy for ‘decontamination Expenses’ may come into play. This coverage would cover the cost of decontaminating a specific site post-disinfection. In this case, coverage may not be fit for COVID-19.

But, it is difficult to utilize this policy to face unexpected situations in a business. However, it may still apply to the loss of expenses due to disinfection and contamination.

  • Health Specific Environmental Policy

This policy works for all those workers who have coverage for healthcare policy. The policy limits itself to cover only bodily injury. It also only applies to those employees who are not showing any symptoms of COVID-19. However, insurance will cover the third person infected by the worker.



Event Cancellation Insurance

Many events have undergone cancellation due to the pandemic. Such event organizing businesses have suffered a lot during these difficult times. This insurance policy covers all the losses arising from the cancellation of events.

  • Event Cancellation in the Case of COVID-19

Although coverage may depend on the limitations of the policy, certain companies consider this and will offer coverage, whereas, some may not. It includes a cancellation that was not in control of the organizer. This policy does not extend to the lack of popularity of an event under any circumstances.

Travel Cancellation and Business Travel Coverage in the Case of Accidents

Another widely affected industry is the travel industry. The Travel Cancellation Policy no longer includes ‘CoronaVirus’ in their coverage.

  • Policy for Travelers

Limiting the coverage still has some opportunities for travelers. Travelers will get coverage if they are suffering from COVID-19 due to travel. Also, 24/7 services are available globally to passengers who wish to travel back home.

  • Policy for Business Travelers

The ‘Business Travel Accident Policy’ covers expenses in case of illness. This illness also includes infectious diseases. The policy also provides coverage for trip cancellations. These cancellations should be in the case of the passenger being too ill to travel.

‘Trip Interruption Coverage’ covers the passenger unable to travel. It may even be due to restrictions by the government. It applies well to the lockdown imposed in various countries across the globe.


There is no concept of ‘one policy fits all’. Primarily in an unprecedented situation like the coronavirus. Businesses must review their policies thoroughly so that they can ensure protection against possible losses arising from this pandemic.

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