What is Physical Damage, and Does COVID-19 Cause Any?
Discusses physical damage under the commercial property, causes of loss special form, and business income and extra expense coverage forms.
March 18, 2020 at 11:50 AM
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Insurance property policies generally have a few things in common; one is that they provide coverage for some form of physical damage; it may be listed as “direct physical damage”, “direct physical loss or damage”, “loss or damage” caused by a particular peril, “direct physical loss to property” or similar phrasing. It is clear that actual physical damage must occur. But what exactly is damage? The policies do not include damage as a defined term. While it seems straightforward, circumstances arise, such as COVID-19, that bring the question to the forefront.
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