CWA Blog Archive-Insurance Update From Monument Sports

Insurance Update From Monument Sports

Pdf Summary

Written by Monument Sports Group in April 2020, this update informs CWA members about insurance realities as COVID-19's impact developed, reassuring members that the office would continue working extended weekday and weekend hours to remain available for questions and concerns. The core, sobering message concerns Business Income and Business Interruption coverage. Monument reports that insurance carriers have been responding in line with expectations outlined in prior CWA COVID-19 communications and discussed in the insurance portion of the first CWA Community Call: COVID-19 Business Income claims are being filed and subsequently denied regularly. The standard denial most likely refers to Virus or similar exclusions and states that virus has not caused Direct Physical Damage, the key coverage hurdle. Crucially, despite these denials, Monument advises members not to be deterred from filing. It still recommends filing loss of income claims, since the carrier will need to review and determine coverage, meaning a filed claim gets formally evaluated even if denial is likely. The update also notes members were hearing about coverage terms like Civil (the text trails off, likely Civil Authority coverage, another avenue members were asking about). The throughline is that while COVID-19 business interruption insurance claims were being routinely denied based on virus exclusions and the lack of direct physical damage, Monument Sports Group nonetheless advised CWA members to file loss-of-income claims anyway, because only a filed claim triggers the carrier's formal review and coverage determination. Recognizing members' urgent financial concerns during closures, Monument, the CWA's insurance partner, provided honest, expectation-setting guidance: denials were the norm, typically citing virus exclusions and the requirement of direct physical damage that the pandemic didn't meet. Yet rather than discouraging members, Monument recommended filing regardless, preserving members' right to a formal coverage review and any chance of coverage. By committing to extended availability and clear communication about the difficult insurance landscape, Monument demonstrated its supportive role during the crisis. For CWA members grappling with closure-driven losses, the update delivered realistic expectations about the low likelihood of business interruption coverage while still empowering them to pursue claims properly, ensuring they didn't forgo potential coverage by assuming denial was final, and reinforcing that their insurance partner was actively available to help them navigate an unprecedented and challenging insurance situation.

Asset Caption

An April 2020 Monument Sports Group update on pandemic insurance. It reports COVID-19 business income claims were being routinely denied, typically citing virus exclusions and lack of direct physical damage, but advises members to file loss-of-income claims anyway, since only a filed claim triggers the carrier's formal coverage review. Monument pledged extended availability throughout.