Advocating For Businesses When Business Interruption Insurance Claims Are Denied
When you own a business, there are situations you can plan for and those that you cannot. Insurance policies, however, are designed to help you have some backup in the event that something happens. However, not all insurance companies willingly pay out what they owe. In some cases, business owners are refused the insurance coverage they are owed and claims are denied in bad faith.
If you have found yourself facing business challenges due to the current pandemic or as the result of a natural disaster, we are here to help. At Maitland & English Law Firm, PLLC, our firm is committed to helping business owners get the insurance payments they deserve. With offices in Chapel Hill and Durham, we serve small to medium-sized businesses throughout North Carolina. We also partner with a New Orleans-based firm to handle these types of cases throughout the country.
Types Of Policy Claims Being Denied
Our handling of these cases began with restaurants, as they are facing serious difficulties due to the recent social distancing mandates from the state government. Now, we are stepping in to represent any business that is struggling and in need of assistance obtaining the compensation they are owed from their commercial insurance policies.
In our experience, our attorneys have noticed that three types of insurance policies are seeing denials:
- General insurance policy: Some general insurance policies do not explicitly mention business interruption. This does not mean that there is no coverage, however. There still may be coverage allowed per the policy even if it is not specifically stated that it covers business interruption.
- Business interruption policy: This specific policy details the situations that constitute business interruption. However, some insurance companies are denying claims based on their assessment that the virus, COVID-19, is not the cause of the interruption to the business. This type of policy typically comes into play when there is physical damage to the business, resulting from a hurricane or another natural disaster.
- Forced closure policy: This actual policy applies when a pandemic such as the one we are experiencing or other statewide events result in the government forcing a business to close. This is a straightforward interruption of the business, and insurance companies are attempting to deny these claims as well.
Detail-Oriented Examination Of Your Policy And Situation
Insurance policies are typically composed in a complex, legally dense language that can be difficult to understand. Our lawyers are well-versed in the language of commercial insurance policies. By taking the time to review every aspect of your policy, we can help you understand what the policy says and determine what your rights are and what coverage you are entitled to.
By thoroughly examining the policy, we can determine if the insurer offered the coverage but did not tell the business about it, if the insurer never told the business about it but the owner consciously declined the coverage, and whether the insurer told the insured the difference between standard insurance and business interruption insurance.
Get Answers To Your Business Questions Today
For more information or to schedule a consultation with a member of our trusted and experienced legal team, call us at 919-265-0800 or contact us online. We are here to help protect the future of your business.