Business Interruption Attorneys in Florida, Alabama, and Louisiana
Fighting for commercial policyholders throughout the Southeast
The lifeblood of every business is generating revenue. This means selling your inventory, manufacturing products, providing services, and operating the full range of for-profit business activities. If your office, building, or location needs to close for repairs after any natural disaster, the chances are good your inventory, tools, and equipment may be damaged or destroyed, too.
Getting back up to speed after a disaster requires skilled legal counsel who understand business interruption insurance and the insurance industry. At Warhurst Law, attorney Gene Warhurst has been fighting for policyholders since 1995. Before then, he worked in the claim departments of The Hartford and USF&G, two of the largest property and casualty insurers in the nation. This dual knowledge provides a unique edge, because not only can we properly value your damages, but we can anticipate the arguments insurance companies use to try to deny or reduce your claims. Contact our policyholder advocate lawyers today if you sustained losses in Alabama, Florida, Louisiana, or anywhere in the US.
Important information for businesses affected by COVID-19
The COVID-19 outbreak has caused considerable disruption for businesses throughout the country. If you are considering filing a claim against your business interruption coverage, take note: different courts in different jurisdictions may not see eye-to-eye on these claims.
But just because it may be a challenge doesn’t mean it’s impossible. You may be able to claim a covered loss from property damage stemming from COVID-19’s ability to live on surfaces for extended periods of time, necessitating a shut-down and a thorough remediation of your property. You may be able to claim warehouse losses, or because of supply chain delays. Contact us to see if you have a business interruption claim related to COVID-19.
Does my insurance policy cover business interruption?
It should; most commercial policies do. However, not all policies cover the same losses, and some policies may have exclusions for which losses are covered, and when.
What does my business interruption coverage cover?
As with many insurance issues, the difference between an end result and a great result is understanding the details and how to verify them.
The main items that should be covered in a standard business interruption insurance policy are:
- Lost revenue and profits. We document your lost income through tax returns, regular accounting records, profit and loss statements, sales records, and other documentation. We also work with financial professionals experienced in valuing companies and company profits. We understand that each business operates differently. Some have peak seasons. Many earn revenue on a steady basis year ‘round.
- Fixed costs. During the repair process, companies still need to pay fixed expenses. These include monthly, quarterly, and regular payments for taxes, insurance, licensing fees, mortgages, and other expenses.
- Technology costs. Companies need to work with IT professionals to get their computer systems up and running as soon as possible.
- Temporary location costs. Some companies may be able to use another location if the repairs will be for an extended period. Business interruption damages should include the cost to move to another place, rent another location, rent computer hardware and software, and pay or lease any necessary tools and equipment.
- Retraining costs. If your business needs to move to a new location, or your inventory or machinery has to be replaced, you’re going to need to retrain workers how to use the new tools.
- Taxes. The government will always come for its pay, even if your business isn’t operating. Business interruption coverage can ensure your financial obligations to Uncle Sam are met.
- Employee pay. Business interruption services should provide coverage for payments that must be made to employees if they can’t work during a shutdown.
Your policy probably has a maximum limit. Make sure you have the right amount of coverage to protect your assets.
Exclusions vary by policy
It is true that all of these options may be covered by your policy – but only for listed perils. In other words, if your commercial property insurance policy doesn’t cover wind damage, and your properties and inventory are whisked away by a tornado, then your business interruption coverage isn’t going to be helpful.
Related business interruption coverage issues
Businesses may be entitled to advances and interim payments to cover continuing expenses, the cost to relocate, and other essentials that can’t wait until the entire case is resolved.
In business interruption cases, the insurance companies will do everything they can to undercut your claim. This includes claiming that your losses are speculative and that they can’t be verified. They’ll try to limit the time you need to recover.
At Warhurst Law, we work to enforce the terms of your property insurance policy so that repairs can be completed in a timely manner, so that your business operations can start, in full, again.
When insurance companies deliberately stall to try to make you take a lower offer, our Alabama and Florida insurance dispute lawyers are ready to inform a judge or jury that the insurance company should be punished financially for refusing to pay its bills. If the insurance company refuses to value damage according to policy terms and industry standards, we demand damages for bad faith negotiation.
Helping businesses throughout the Southeast move forward
The old saying – the devil is in the details – is the crux of every business interruption claim. The more documentation you have, the better claim you have. Hiring the skilled Florida and Alabama insurance dispute lawyers from Warhurst Law means demanding compensation for all aspects of your business that are affected by a shutdown. To speak with a lawyer with a reputation for just recoveries when disasters or accidents occur, call Warhurst Law at 251-694-1932 or use our contact form to schedule an appointment in our office in Mobile. We represent businesses and organizations across the Southeast including Florida, Alabama, Louisiana, and throughout the United States.
* Warhurst Law cannot and does not guarantee an outcome to any case.