In the aftermath of a hurricane, many businesses found themselves incapable of generating revenue. The ones that have a business interruption insurance policy can file a claim for compensation for the loss of income. Unfortunately, some insurers unfairly deny claims. We help businesses get the compensation they need and deserve. In fact, our attorneys were there, on site to help businesses file claims and get the maximum business interruption compensation for some of the worst disasters in history, including:
The first and most important item to understand about this type of policy is that it’s intended to cover revenue losses incurred while your business property is being restored. In some cases, an extended business interruption policy may be in place that continues through the restoration and until the business gets back to its previous income level.
You may also have an extension to the standard policy called contingent business interruption insurance that applies to the loss of income stemming from physical property damage incurred in a natural disaster by business partners, suppliers, and product consumers.
When calculations about the compensation are being made, the insurer will need solid evidence of income loss and its connection to the damage sustained because of the hurricane. The burden of proof falls on the policyholder. To file a claim, a policyholder will have to gather information and evidence that proves the loss, such as:
Gathering this evidence will take time, but it can do much to prevent unfairly denied business loss claims, unnecessarily delayed claims, and underpayments that do not adequately cover your losses.
The success of your interruption claim in the aftermath of Irma and Maria depends on several factors. In order to boost your chances of success, you may want to follow these steps:
Business interruption claims can be quite complex. If at any time during the claims process you need clarification or assistance, contact our firm. We can help you file your claim, gather the required documentation, and ensure your rights are protected throughout the process.
