Business Interruption Insurance Denial
A disaster, like a fire or massive water leak, can bring your business to a grinding halt and damage buildings, inventory and other property. The potential losses go far beyond property damage. When you are unable to deliver products or make new ones, you lose revenue when you are forced to move out of your home because of rampant mold, your life is disrupted. Meanwhile, bills for utilities, salaries and other ongoing expenses continue to pile up.
When disaster strikes, businesses rely on their business interruption insurance for survival. Business interruption insurance is an adjunct coverage — often part of a company's commercial property insurance. It typically covers lost revenue, continuing operating expenses and the costs of relocation to a temporary location. In addition, business interruption insurance may cover the costs of the professional fees you incur in order to determine the extent of a loss.
A delay in payment or the denial of a business interruption insurance claim can easily drive a company into bankruptcy.
If your home has been damaged and you have to move into a rental, delays in your rent and utilities could be financially crippling. Knowing your "ALE" rights ("Additional Living Expenses") is important. Our lawyers can help you understand what to expect and what you are owed in the case of a covered event. At Pillsbury & Levinson, LLP, our attorneys assist clients in obtaining the full amount of business interruption insurance coverage they are entitled to receive.
Our law firm is familiar with the often arcane calculations that must be done to establish the extent of your loss, whether your policy covered gross earnings, profits or actual loss sustained.
After a disaster, you may become a defendant in numerous other kinds of actions. Our attorneys can also help you in seeking coverage for third party claims through your commercial general liability insurance. To learn more about what our insurance lawyers can do after a business interruption claim denial, please contact our insurance law firm. From offices in San Francisco's Transamerica Pyramid, we represent clients throughout California.
