What to Do if Your Enterprise Interruption Insurance coverage Declare Is Denied

0
38
Banner

What to do if your business interruption insurance claim is denied?

The response to COVID-19 has turned our world upside down, including long-term closings and cancellation of special events. If your business had to be closed due to government contracts during the pandemic, you are likely to have significant revenue and lost some or all of your employees. The future can feel very uncertain. Business interruption insurance may offer some protection, but you may be wondering what to do if your business interruption insurance claim is denied.

Unfortunately, many claims are rejected and entrepreneurs stay with their backs against the wall. If this describes your situation, it may be time to hire a lawyer and come to terms with your insurance company. At Guajardo & Marks, our lawyers help with insurance claims. Instead of getting lost in the mix of companies that require the attention of their insurance company, hiring a lawyer can take you to the top and show your insurance company that you are serious. Lawyers represent better financial results in almost all legal matters.

If you are looking for an aggressive lawyer to deal with your insurance company and ask them to cover your losses, Guajardo & Marks' lawyers are the perfect choice. Our years of experience and competence pay off for our customers. To learn more about how we can help you, call us at 972-774-9800. The initial consultation is free of charge.

What if your travel cancellation insurance claim is denied?

From music concerts to weddings to summer festivals, events all over the country are canceled on the right and left. Texas has seen its own share of canceled events, including Comicpalooza 2020, Galveston County Fair and Rodeo, IRONMAN races, Oak Cliff Film Festival, and concerts by Michael Bublé and the band Journey. This means loss of revenue for restaurants, artists, caterers and retailers as well as several broken service contracts. Almost every community in Texas has street festivals, outdoor art fairs, and craft beer festivals that have been canceled or postponed indefinitely.

Business interruption insurance is designed to protect companies and providers from massive losses due to unexpected cancellations. Since the United States has never experienced a pandemic of the magnitude of COVID-19 in modern history, insurance companies are overwhelmed with claims and are looking for ways not to pay for them.

If you made a claim because your event was canceled, you're in luck if your claim has been approved. If your cancellation insurance claim has been denied, you may need the help of an aggressive lawyer to reverse the decision.

It is frustrating when your business interruption claim is denied.

Most insurance companies across the country believe that business interruption losses due to the coronavirus pandemic are not covered by typical commercial insurance policies. The insurance companies generally deny claims caused by COVID-19 and state that the losses caused by the virus do not satisfy the "direct physical loss or damage" required. All of this is new territory because America and the world have never experienced such a pandemic and the resulting catastrophic business losses.

At Guajardo & Marks, we believe that corporate claims cannot be challenged without thorough investigation and proper legal analysis. The flat-rate rejection of business interruption claims is only one way for insurance companies to avoid paying reasonable compensation amounts. After all, your company paid the insurance premiums for months or years, and the insurance cover should be available to you in your emergency. Take action instead of being frustrated. To learn more about how our lawyers can help, call us at 972-774-9800.

Steps to take if your right to cancel the event is denied

The COVID-19 corporate loss law is not as clear and changes rapidly when legislators and business leaders get involved. Guajardo & Marks lawyers know how to contest the denial of a claim and how to set up a powerful litigation on your behalf. We keep up to date with changes in the interpretation of the law and closely monitor national trends, as more and more small companies complain after rejection of claims to business interruption and event cancellation. We remain at the forefront of this litigation.

If your claim has been denied, please follow the steps below:

  1. Collect copies of your business interruption or cancellation insurance.
  2. Keep track of how often you have contacted your insurance company and the content of the conversations or emails.
  3. Keep careful accounting and bookkeeping records of your commercial rentals and expenses, supplier contracts, and financial losses due to the virus.
  4. Stay up to date on government mandates, when your company should be closed and when it may reopen.
  5. Hire a qualified lawyer who is ready to fight your insurance company for the compensation you deserve.

These are uncertain and stressful times. The more documents you need to secure your claim, the better. Be as specific as you can about costs, contracts, deadlines and financial losses. While traditional interpretations of insurance coverage for business interruptions can be the norm, litigation across the country is creating novel and creative interpretations to ensure insurance coverage for their businesses. We can do the same for you. Very few courts have ruled on these cases to date, and there could be future government intervention. A qualified lawyer can keep you up to date on all of these legal changes.

Consult a qualified Dallas lawyer who can fight your insurance company.

If your business interruption claim is denied, it may be time to hire an aggressive attorney who can forcibly negotiate with your insurance company to get compensation. Thousands of stores are closed and events canceled across Texas, and insurance companies are overwhelmed with claims. Hire a competent and persistent attorney at Guajardo & Marks to ensure that your claims are paid. We won't rest until you get the justice you deserve. To learn more about how we can help you, call us at 972-774-9800. The initial consultation is free of charge.