Aberdeen chairman Dave Cormack says it is "unethical" for the club's insurance company not to cover for losses throughout the coronavirus crisis.
The Pittodrie club say their policy covered them for such an eventuality, but have been informed that will only be in place until the end of April.
Cormack added that it would have been worth "hundreds of thousands" of pounds to Aberdeen if fully honoured, acknowledging it was well short of the £5m black hole he anticipated in the coming months.
"The bulk of our losses will likely be beyond the end of next month," Cormack said.
"We may be one of only a few clubs with an insurance policy that clearly covers the impact of a pandemic.
"Despite paying for that cover ‐ when we need it most, we've been advised we're not going to get it.
"For something to happen during the period we're covered, right now, and then for them to say 'we're not going to cover you for this from 1 May' seems a little bit unethical."
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Many other Scottish clubs are waiting to discover if their insurance will cover them for the outbreak of COVID-19, which has brought all sport in Scotland brought to a halt.
"We believe there is a moral dilemma here," added Cormack on Thursday.
"Perhaps what is needed is for pandemic claims to be dealt with in a similar way to those arising from floods and terrorism. That is, through an industry‐wide, public/private insurance solution which provides essential cover, at the cost of the insured, but with the cost of claims being spread across the whole of the insurance industry and the state.
"That seems an appropriate long‐term solution, for the solvency‐threatening consequences of pandemics.
"But, until that's in place, would it not be the right thing for insurers to continue existing cover for so long as the consequences of the current COVID‐19 outbreak continue?"