Skip to ContentSkip to Footer


From the Houston Rodeo to American Airlines, the casualty list of organizations hit by the coronavirus disease (COVID-19) grows daily.

In the multifamily space, COVID-19 poses a threat to property income and financial stability as society adapts to this new threat. Historically, organizations have turned to business interruption policies for monetary relief from the impact of fires, hurricanes, and other disastrous events.

In the wake of COVID-19, the Insurance Services Office (ISO) provided information on how business interruption coverage will function in relation to the coronavirus.

As this pandemic increases the risk of financial loss, here is what multifamily property owners and investors should know.

Business Interruption Coverage during the COVID-19 Outbreak

In a recent communication, the ISO confirmed that in most every incident your business interruption must be tied to actual property damage for coverage to be triggered. The ISO also pointed to various exclusions within the policy speaking to viruses.

Based on the ISO’s information, coverage for COVID-19 revenue loss isn’t likely.

Although the ISO released template wording for its member companies to adopt, thus far, insurers have declined to adopt/offer such coverage. (If you want more information, please private message me so we can schedule a time to discuss this matter.)

Guiding Your Organization during the Coronavirus Outbreak

Since business interruption policies are not providing a safety net for COVID-19, it’s critical that business leaders take steps to mitigate risk.

Our recommendations are as follows:

  • Follow the CDC’s healthcare precautions. Please read the CDC’s Interim Guidance for Businesses and Employers, which has information on handling employee illness, travel, and more.
  • React swiftly before executive orders or mandates. Do not wait for an order from your state governor or local authorities to lower your organization’s COVID-19 exposure. Mitigate risk for all stakeholders—now.

How Pathfinder Is Responding

Here at Pathfinder, we acknowledge the seriousness of these developments for our clients.

However, COVID-19 is not the only challenge that our industry is facing.

While this virus is dealing an economic blow, there’s a bigger issue looming on the horizon that will devastate revenue—skyrocketing renewal rates.

However, this is a subject for another time.

Don’t get sidetracked by COVID-19 during this hard market.

If you have questions about the coronavirus as it pertains to your property insurance coverage, share what’s on your mind in the comments below or private message me through LinkedIn.

Get an Estimate

* indicates required fields

What Amenities Does Your Property Have?
Max. file size: 49 MB.
Upload the following formation Doc, LLC, FEIN, 5 year loss history, current rent roll, and current T-12
This field is for validation purposes and should be left unchanged.

Customer Reviews

Jason has done an outstanding job of building Pathfinder Insurance Group

Scott M

I highly recommend him to anyone looking for commercial insurance coverage

Ariel N

Pathfinder’s availability, thorough knowledge of the industry...

Philippe L

Pathfinder has been our choice for 4 years now.

Jody M

Pathfinder consistently, creatively beats the market with price and coverage.

Laura K