Business Interruption Claim Disputes
Property damage can affect a business in various ways. Indirect losses caused by natural disaster or other catastrophic events leading to property damage that may occur after a natural disaster are often not covered under a general property insurance policy. For instance, if customers or suppliers are hindered from doing business, whether by lack of access or other damage, this will harm a business’s ability to carry on. Property damage can also interrupt access to utilities, thus halting business activity.
Business Interruption Insurance is additional insurance that generally includes categories of coverage that will extend to these additional losses. This may include ingress/egress coverage, which applies when entry to or exit from a piece of business property is made impossible or extremely difficult. Another category might be services interruption, which is intended to cover for losses caused by inability to access vital services including communication, electricity, water, gas, air-conditioning/heating, or transportation of supplies. Contingent business interruption coverage deals with the economic losses resulting from customers or suppliers being unable to reach the affected business. Similarly, coverage for interruption by civil or military authority covers the time period during which the police or military might block access of an area following some disastrous event. Policies may include all or some of these varieties of coverage.
Business interruption insurance is indeed very valuable. When an insurance provider attempts to deny the coverage, naturally this can lead to even more problems for the hard-hit business owner. For example, most insurance policies require a waiting period before benefits begin to be paid. Issues arise when the insurer drags on this waiting period beyond a reasonable time. The longer this waiting period extends, the more damages pile up without any monetary relief. A safeguard for the business owner that may be found in a policy is the extended period of indemnity. This is meant to keep the insurer from cutting off payments after a business is able to reopen. Just because the business reopens does not mean that all is back to normal, and sometimes a business takes a long time to rebuild itself to its former capacity. Insurance companies sometimes attempt to circumvent this benefit by falsely inflating the business’s earnings after reopening. Disputes with the insurance company like these can be harrowing for a business owner to deal with alone on top of all the other difficulties.
The Berniard Law Firm can help you evaluate your coverage and help you with you insurance claim to ensure you get the coverage you deserve. The Berniard Law Firm will work closely with your accountants and we will hire our experts such as forensic accountants to present you business income claim to the insurer and court. The experience the Berniard Law Firm gained in representing hundreds of clients against insurance companies gives our attorneys the knowledge and expertise needed to effectively represent your rights against the insurance company.
Speak With a Berniard Law Firm Attorney Today
Call us at (504) 521-6000 to speak with a Berniard Law Firm Attorney about your business income loss dispute. You can also complete the contact form and a Berniard Law Firm Attorney will contact you in the next 4 hours. All initial consultations are free and all cases are handled on a contingency fee basis. This means there are no costs to you unless a settlement or award by the court is adjudged. You have nothing to lose, call today and a Berniard Law Firm Attorney will begin immediately working on your case so you can get the compensation you deserve.
Co-Counsel and Expert Consultation Services
The Berniard Law Firm is happy to take on any role necessary to help individuals and businesses in their fight against insurers. The Berniard Law Firm has worked in a variety of roles as lead counsel, co-counsel, as well as consultation and expert services. Our attorneys have worked with corporate counsel, corporate risk managers, public insurance adjusters, corporations, contractors, during the claims adjustment, investigation, litigation, and all phases of the claims process to help resolve coverage disputes. Call the Berniard Law Firm today to speak with an attorney regarding our services.
We thank you for your time and look forward to working with you to ensure you get the coverage you paid for.
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