It seems like we have all found ourselves talking with family more and reconnecting with old friends.  I think this is a huge silver lining of the pandemic.

In lieu of texting or emailing, we’re scheduling virtual happy hours and dinner parties just to catch up. Or another novelty – actually dialing the phone to hear a voice on the other end)

Think about it, we’re jumping on Facetime, Skype, and Zoom to see the faces of friends and family.  And it’s darn enjoyable.  I’ve been connecting with good friends that moved away because before, life was just too busy to find a weekend to get together.  The new norm of a virtual happy hour is not only efficient, but it helps maintain deep relationships.  I hope it continues post-pandemic.

An interesting study would be the variety of topics that come up during “Pandemic Happy Hours.” Do any of these topics sound familiar? TP shortages, social distancing, face masks, Tiger King, or “essential vs non”. Discussions touch upon topics that wouldn’t have been a thing back in January.

One topic that I didn’t expect to be talking about during this unusual time in history was insurance coverage.

We all agree that this is a brutal time for businesses that have been forced to close and lay off employees.  Most businesses might be able to last a few weeks, but a month or two might not be possible.  Between the PPP and other stimulus funds, there seems to be some relief, but the new discussion is whether business insurance covers losses during this time.  Normally during catastrophic incidents, like a tornado, or damage from a fire or flood, a business could file a claim for lost revenue while they are closed, but recent claims based on the impact of the pandemic are being denied.  Yes, exclusions are part of your coverage.  Surprisingly, many are finding out the hard way.

That led into the discussion of whether other insurance coverage is voided due to a pandemic.  With over 50,000 US deaths and 170,000 worldwide, would life insurance policies be honored?  Wow, that’s morbid, but…would they?  None of us ever thought that we’d be living in such a time and probably never inquired about exclusions.  I fired off an email to my agent and he responded quickly that the question of “pandemic related exclusions” has come up a lot from his life insurance clients, but thankfully they are covered.

He went on to explain that life insurance exclusions are fairly limited compared to older policies of 30 years ago where exclusions included many risky behaviors – including flying!  He did suggest, however, that each person should review their policy for exclusionary language.  It’s more peace of mind in a very uncertain time.

I can sleep better knowing that my life insurance will be there for the family in case of a coronavirus catastrophe. However, the debate over how much TP to stock, may never end.

Be safe.

Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.