On March 25, 2020, Ken Kronstadt, Patrick Boyle, Jessie Beeber, Sarah Cronin, and Michael O'Connor published “COVID-19 Has Shut Down Your Construction Project. Is There Insurance for That?” in Construction Executive. The following is an excerpt:
We should expect construction to shut down. The only question is when, not if, this will occur. Owners will be given a few days to secure their sites, but what comes next?
As COVID-19 spreads, its impact on the construction industry could be severe. Faced with deadlines to complete pending projects, city and state orders for residents and non-essential workers to “shelter in place,” and substantial supply chain disruptions, will your insurance policies provide any coverage for the extra expenses and losses you are about to incur? This alert considers some of the key insurance issues that developers, owners and contractors may face.