Nearly a year after the bombings at the Boston Marathon, many of the businesses that reported financial losses from the explosions and aftermath are still struggling to collect reimbursements from their insurance companies or have had their claims denied outright.
The state’s largest property and casualty insurers have paid a total of $1.9 million in bombing-related claims, according to the state Division of Insurance. But the insurers flatly rejected a large percentage of claims by businesses and have offered partial compensation on many others.
The denials of claims have angered some business owners, who say they collectively lost millions of dollars in the days after the bombings.
Insurance industry officials said there are many valid reasons for claims to be rejected, such as specific policy exclusions that limit coverage for lost income. But there is also plenty of room for disagreement within the fine print.
“Why do you pay insurance if they don’t cover you?” said Perry Geyer, the owner of Cybersound Inc., a Newbury Street recording studio that reported $9,000 in losses. “We never got one penny from them and we lost a lot of business that week.”
You have reached the limit of 5 free articles in a month
Stay informed with unlimited access to Boston’s trusted news source.
- High-quality journalism from the region’s largest newsroom
- Convenient access across all of your devices
- Today’s Headlines daily newsletter
- Subscriber-only access to exclusive offers, events, contests, eBooks, and more
- Less than 25¢ a week